Key Points
- CEO Darren Lampert bought 64,098 shares of GrowGeneration on May 18 at an average price of $1.55, spending about $99,352. After the purchase, he owned 1,765,800 shares, a 3.77% increase in his position.
- GrowGeneration recently beat earnings expectations, reporting an adjusted loss of $0.08 per share versus the expected $0.09 loss, while revenue came in at $38.39 million, above estimates of $36.45 million.
- Wall Street remains cautious on GRWG, with analysts holding a consensus rating of “Reduce” and recent ratings including neutral, hold, and sell.
GrowGeneration Corp. (NASDAQ:GRWG - Get Free Report) CEO Darren Lampert acquired 64,098 shares of the company's stock in a transaction dated Monday, May 18th. The shares were bought at an average price of $1.55 per share, for a total transaction of $99,351.90. Following the acquisition, the chief executive officer owned 1,765,800 shares in the company, valued at approximately $2,736,990. This trade represents a 3.77% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
GrowGeneration Stock Performance
NASDAQ:GRWG opened at $1.57 on Wednesday. The firm's 50-day moving average is $1.21 and its 200-day moving average is $1.37. GrowGeneration Corp. has a 52-week low of $0.87 and a 52-week high of $2.40. The company has a market cap of $94.34 million, a price-to-earnings ratio of -4.91 and a beta of 2.40.
GrowGeneration (NASDAQ:GRWG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.01. GrowGeneration had a negative net margin of 11.91% and a negative return on equity of 19.50%. The company had revenue of $38.39 million for the quarter, compared to the consensus estimate of $36.45 million. Equities analysts predict that GrowGeneration Corp. will post -0.22 EPS for the current year.
Wall Street Analyst Weigh In
GRWG has been the topic of several recent research reports. Alliance Global Partners reiterated a "neutral" rating on shares of GrowGeneration in a research report on Wednesday, May 13th. Weiss Ratings lowered shares of GrowGeneration from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, May 12th. Finally, Zacks Research upgraded shares of GrowGeneration to a "hold" rating in a research report on Thursday, March 26th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce".
Read Our Latest Stock Report on GRWG
Institutional Trading of GrowGeneration
Several institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC boosted its position in GrowGeneration by 754.0% in the third quarter. Squarepoint Ops LLC now owns 160,612 shares of the company's stock valued at $300,000 after buying an additional 141,805 shares in the last quarter. Two Sigma Investments LP acquired a new position in GrowGeneration in the third quarter valued at about $279,000. Bridgeway Capital Management LLC boosted its position in GrowGeneration by 274.6% in the fourth quarter. Bridgeway Capital Management LLC now owns 69,298 shares of the company's stock valued at $104,000 after buying an additional 50,801 shares in the last quarter. Bank of America Corp DE boosted its position in GrowGeneration by 36.7% in the fourth quarter. Bank of America Corp DE now owns 60,104 shares of the company's stock valued at $102,000 after buying an additional 16,132 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in GrowGeneration in the fourth quarter valued at about $42,000. 36.02% of the stock is currently owned by institutional investors and hedge funds.
GrowGeneration Company Profile
(
Get Free Report)
GrowGeneration Corp. is the largest chain of specialty hydroponic and organic garden centers in the United States, serving commercial and home growers of all experience levels. The company offers a broad assortment of cultivation supplies, including high-efficiency LED lighting, climate control systems, irrigation and fertigation equipment, growing media and nutrients. Through its retail outlets and e-commerce platform, GrowGeneration caters to indoor and outdoor horticultural operations, with a particular focus on the rapidly expanding legal cannabis market.
In addition to its product offerings, GrowGeneration provides design, consulting and project management services for turnkey cultivation facilities.
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