GrowGeneration (NASDAQ:GRWG) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a report released on Monday, Zacks.com reports.
According to Zacks, "GrowGeneration Corp. owns and operates specialty retail hydroponic and organic gardening stores. The company carries and sells product which includes organic nutrients and soils, advanced lighting technology and state of the art hydroponic equipment to be used indoors and outdoors by commercial and home growers. It operates primarily in Colorado, California, Las Vegas, Rhode Island and Washington. GrowGeneration Corp. is headquartered in Pueblo, Colorado. "
GRWG has been the subject of a number of other research reports. Roth Capital dropped their target price on GrowGeneration from $55.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday. They noted that the move was a valuation call. Stifel Nicolaus dropped their target price on GrowGeneration from $67.00 to $50.00 and set a "buy" rating for the company in a research report on Friday, August 13th. Northland Securities initiated coverage on GrowGeneration in a research report on Wednesday, July 7th. They issued a "buy" rating and a $55.00 target price for the company. Craig Hallum dropped their target price on GrowGeneration from $55.00 to $35.00 and set a "buy" rating for the company in a research report on Friday. Finally, Lake Street Capital lowered their price objective on GrowGeneration from $63.00 to $50.00 and set a "buy" rating for the company in a research report on Wednesday, October 13th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $43.00.
Shares of GRWG traded up $0.19 during trading hours on Monday, reaching $22.10. 1,010,991 shares of the company's stock traded hands, compared to its average volume of 2,009,951. The stock has a market cap of $1.32 billion, a PE ratio of 73.67 and a beta of 2.89. The firm's 50 day simple moving average is $28.31 and its 200-day simple moving average is $38.19. GrowGeneration has a 12 month low of $15.84 and a 12 month high of $67.75.
GrowGeneration (NASDAQ:GRWG) last released its earnings results on Thursday, August 12th. The company reported $0.11 earnings per share for the quarter, missing the Zacks' consensus estimate of $0.12 by ($0.01). The firm had revenue of $125.89 million during the quarter, compared to the consensus estimate of $113.51 million. GrowGeneration had a return on equity of 6.20% and a net margin of 5.32%. Analysts expect that GrowGeneration will post 0.41 earnings per share for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of GrowGeneration by 88.7% during the first quarter. Dimensional Fund Advisors LP now owns 68,646 shares of the company's stock valued at $3,412,000 after buying an additional 32,267 shares during the period. Avantax Advisory Services Inc. purchased a new stake in GrowGeneration in the first quarter worth $38,000. Stephens Inc. AR purchased a new stake in GrowGeneration in the first quarter worth $383,000. NEXT Financial Group Inc boosted its holdings in GrowGeneration by 75.0% in the second quarter. NEXT Financial Group Inc now owns 4,900 shares of the company's stock worth $236,000 after acquiring an additional 2,100 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in GrowGeneration in the first quarter worth $135,000. 42.38% of the stock is currently owned by hedge funds and other institutional investors.
GrowGeneration Company Profile
GrowGeneration Corp. engages in the retail of hydroponic and organic specialty gardening products. It offers lighting fixtures, nutrients, seeds and growing media systems, trays, fans, filters, humidifiers and dehumidifiers, timers, instruments, water pumps, irrigation supplies, and hand tools. The company was founded by Darren Lampert and Michael Salaman on March 6, 2014 and is headquartered in Denver, CO.
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