GrowGeneration Corp. (NASDAQ:GRWG) Given Average Recommendation of “Hold” by Analysts

Shares of GrowGeneration Corp. (NASDAQ:GRWGGet Rating) have been assigned an average rating of “Hold” from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $16.31.

A number of equities analysts have recently weighed in on GRWG shares. Roth Capital cut GrowGeneration from a “buy” rating to a “neutral” rating and cut their price target for the stock from $20.00 to $8.00 in a report on Thursday, March 3rd. Oppenheimer lowered their price target on GrowGeneration from $50.00 to $15.00 in a research report on Thursday, May 12th. Wells Fargo & Company lowered their price target on GrowGeneration from $8.00 to $4.00 in a research report on Wednesday, May 11th. Zacks Investment Research downgraded GrowGeneration from a “hold” rating to a “sell” rating in a research report on Tuesday, May 24th. Finally, Alliance Global Partners reduced their price target on GrowGeneration from $14.00 to $7.00 in a report on Wednesday, May 11th.

GRWG opened at $5.00 on Thursday. The firm has a market cap of $303.72 million, a price-to-earnings ratio of 250.00 and a beta of 2.85. GrowGeneration has a 52 week low of $3.62 and a 52 week high of $52.80. The business’s 50 day moving average is $6.33 and its two-hundred day moving average is $9.30.

GrowGeneration (NASDAQ:GRWGGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). GrowGeneration had a return on equity of 0.40% and a net margin of 0.35%. The firm had revenue of $81.80 million for the quarter, compared to analyst estimates of $83.57 million. During the same period last year, the firm earned $0.10 EPS. The company’s quarterly revenue was down 9.1% on a year-over-year basis. On average, sell-side analysts predict that GrowGeneration will post -0.14 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Bank of America Corp DE grew its holdings in GrowGeneration by 160.6% during the 1st quarter. Bank of America Corp DE now owns 161,420 shares of the company’s stock worth $1,487,000 after acquiring an additional 99,488 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in GrowGeneration by 1.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 377,820 shares of the company’s stock worth $3,480,000 after buying an additional 7,121 shares in the last quarter. Advisory Services Network LLC bought a new stake in GrowGeneration during the 1st quarter worth about $432,000. Baader Bank INC raised its holdings in shares of GrowGeneration by 197.2% in the 1st quarter. Baader Bank INC now owns 50,000 shares of the company’s stock valued at $461,000 after purchasing an additional 33,178 shares during the period. Finally, Prentice Capital Management LP bought a new stake in shares of GrowGeneration in the 1st quarter valued at about $1,252,000. Institutional investors own 44.93% of the company’s stock.

About GrowGeneration (Get Rating)

GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. It engages in the marketing and distribution of nutrients, growing media, advanced indoor and greenhouse lighting, environmental control systems, vertical benching, and accessories for hydroponic gardening, as well as other indoor and outdoor growing products.

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