BlackRock Inc. purchased a new position in shares of GrowGeneration Corp. (NASDAQ:GRWG - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,160,213 shares of the company's stock, valued at approximately $1,717,000. BlackRock Inc. owned approximately 1.93% of GrowGeneration as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of GRWG. Monaco Asset Management SAM acquired a new stake in shares of GrowGeneration in the 2nd quarter valued at $1,775,000. Renaissance Technologies LLC increased its holdings in GrowGeneration by 34.5% in the first quarter. Renaissance Technologies LLC now owns 1,370,610 shares of the company's stock valued at $1,508,000 after buying an additional 351,277 shares during the last quarter. Ascentis Independent Advisors purchased a new position in GrowGeneration in the first quarter valued at $111,000. Virtu Financial LLC acquired a new stake in GrowGeneration in the fourth quarter valued at $43,000. Finally, Prentice Capital Management LP raised its stake in GrowGeneration by 65.7% in the fourth quarter. Prentice Capital Management LP now owns 274,097 shares of the company's stock valued at $411,000 after buying an additional 108,711 shares in the last quarter. 36.02% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the company. Weiss Ratings raised GrowGeneration from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, August 21st. Alliance Global Partners raised GrowGeneration from a "neutral" rating to a "buy" rating and set a $2.50 target price on the stock in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $2.50.
Get Our Latest Stock Analysis on GRWG
GrowGeneration Price Performance
NASDAQ GRWG opened at $1.65 on Monday. The firm's fifty day moving average price is $1.55 and its 200 day moving average price is $1.40. The company has a market capitalization of $96.92 million, a price-to-earnings ratio of -6.09 and a beta of 2.56. GrowGeneration Corp. has a 12 month low of $1.00 and a 12 month high of $2.40.
GrowGeneration (NASDAQ:GRWG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. GrowGeneration had a negative net margin of 10.07% and a negative return on equity of 17.44%. The firm had revenue of $43.22 million for the quarter, compared to analyst estimates of $42.75 million. As a group, sell-side analysts forecast that GrowGeneration Corp. will post -0.19 earnings per share for the current year.
GrowGeneration Profile
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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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