Roth Capital Comments on GrowGeneration Corp.'s Q2 2024 Earnings (NASDAQ:GRWG)

GrowGeneration Corp. (NASDAQ:GRWG - Free Report) - Equities research analysts at Roth Capital reduced their Q2 2024 earnings per share (EPS) estimates for shares of GrowGeneration in a report issued on Thursday, May 9th. Roth Capital analyst S. Fortune now forecasts that the company will post earnings per share of ($0.09) for the quarter, down from their prior forecast of ($0.08). The consensus estimate for GrowGeneration's current full-year earnings is ($0.34) per share. Roth Capital also issued estimates for GrowGeneration's Q3 2024 earnings at ($0.06) EPS, Q4 2024 earnings at ($0.07) EPS, FY2024 earnings at ($0.36) EPS, Q1 2025 earnings at ($0.05) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.02) EPS, Q4 2025 earnings at ($0.02) EPS and FY2025 earnings at ($0.17) EPS.

Several other analysts have also recently issued reports on GRWG. Oppenheimer cut shares of GrowGeneration from an "outperform" rating to a "market perform" rating in a research report on Wednesday, March 20th. Roth Mkm increased their target price on shares of GrowGeneration from $2.25 to $2.75 and gave the company a "neutral" rating in a research report on Thursday.

GrowGeneration Stock Performance

Shares of GRWG traded down $0.03 during mid-day trading on Monday, reaching $2.89. The stock had a trading volume of 1,543,547 shares, compared to its average volume of 1,209,908. The firm has a market cap of $175.45 million, a price-to-earnings ratio of -3.70 and a beta of 2.99. The business has a fifty day moving average of $2.44 and a 200 day moving average of $2.40. GrowGeneration has a 12 month low of $1.77 and a 12 month high of $4.23.

GrowGeneration (NASDAQ:GRWG - Get Free Report) last announced its earnings results on Wednesday, March 13th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). GrowGeneration had a negative return on equity of 18.00% and a negative net margin of 22.68%. The firm had revenue of $49.45 million during the quarter, compared to analysts' expectations of $46.03 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GRWG. Vanguard Group Inc. increased its stake in GrowGeneration by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,992,591 shares of the company's stock worth $8,559,000 after purchasing an additional 21,306 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of GrowGeneration by 9.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 500,125 shares of the company's stock worth $1,461,000 after purchasing an additional 42,123 shares during the period. Symmetry Peak Management LLC purchased a new position in shares of GrowGeneration in the 4th quarter valued at about $201,000. Koshinski Asset Management Inc. purchased a new stake in shares of GrowGeneration in the fourth quarter valued at about $29,000. Finally, SG Americas Securities LLC acquired a new position in GrowGeneration in the 4th quarter valued at about $31,000. 36.02% of the stock is currently owned by institutional investors and hedge funds.

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.