GrowGeneration (NASDAQ:GRWG) Shares Up 1.3% - Time to Buy?

GrowGeneration Corp. (NASDAQ:GRWG - Get Free Report) shot up 1.3% on Friday . The company traded as high as $1.04 and last traded at $1.01. 253,790 shares traded hands during trading, a decline of 59% from the average session volume of 620,604 shares. The stock had previously closed at $1.00.

Wall Street Analyst Weigh In

Separately, Lake Street Capital lowered their price objective on GrowGeneration from $4.00 to $2.50 and set a "buy" rating for the company in a research note on Friday, May 9th.

GrowGeneration Trading Up 1.3%

The business has a 50 day simple moving average of $1.11 and a two-hundred day simple moving average of $1.23. The stock has a market cap of $60.10 million, a price-to-earnings ratio of -1.20 and a beta of 3.32.

GrowGeneration (NASDAQ:GRWG - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.02). GrowGeneration had a negative net margin of 28.33% and a negative return on equity of 32.51%. The business had revenue of $35.70 million for the quarter, compared to analyst estimates of $39.63 million. Research analysts anticipate that GrowGeneration Corp. will post -0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. American Century Companies Inc. lifted its holdings in GrowGeneration by 8.0% during the 4th quarter. American Century Companies Inc. now owns 108,910 shares of the company's stock worth $184,000 after buying an additional 8,077 shares during the last quarter. Barclays PLC lifted its holdings in GrowGeneration by 12.0% during the 4th quarter. Barclays PLC now owns 84,528 shares of the company's stock worth $143,000 after buying an additional 9,076 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in GrowGeneration by 13.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 80,998 shares of the company's stock worth $137,000 after buying an additional 9,613 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in GrowGeneration during the 4th quarter worth approximately $27,000. Finally, Bank of America Corp DE lifted its holdings in GrowGeneration by 36.7% during the 4th quarter. Bank of America Corp DE now owns 60,104 shares of the company's stock worth $102,000 after buying an additional 16,132 shares during the last quarter. Institutional investors own 36.02% of the company's stock.

About GrowGeneration

GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. The company engages in the marketing and distribution of nutrients, additives, growing media, lighting, and environmental control systems, as well as other indoor and outdoor growing products.

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