Cibc World Market Inc. Boosts Stake in GrowGeneration Corp. (NASDAQ:GRWG)

Cibc World Market Inc. lifted its holdings in GrowGeneration Corp. (NASDAQ:GRWGGet Rating) by 60.7% in the 2nd quarter, Holdings Channel reports. The firm owned 34,198 shares of the company’s stock after acquiring an additional 12,917 shares during the period. Cibc World Market Inc.’s holdings in GrowGeneration were worth $123,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GRWG. AdvisorShares Investments LLC increased its position in GrowGeneration by 9.8% during the first quarter. AdvisorShares Investments LLC now owns 4,362,686 shares of the company’s stock valued at $40,180,000 after acquiring an additional 388,075 shares during the last quarter. BlackRock Inc. increased its position in GrowGeneration by 1.0% during the first quarter. BlackRock Inc. now owns 3,507,820 shares of the company’s stock valued at $32,306,000 after acquiring an additional 34,301 shares during the last quarter. Vanguard Group Inc. increased its position in GrowGeneration by 8.5% during the first quarter. Vanguard Group Inc. now owns 2,855,236 shares of the company’s stock valued at $26,297,000 after acquiring an additional 222,960 shares during the last quarter. Primecap Management Co. CA purchased a new stake in GrowGeneration during the first quarter valued at $10,683,000. Finally, State Street Corp increased its position in GrowGeneration by 5.8% during the first quarter. State Street Corp now owns 1,104,574 shares of the company’s stock valued at $10,173,000 after acquiring an additional 60,988 shares during the last quarter. Hedge funds and other institutional investors own 46.80% of the company’s stock.

GrowGeneration Stock Performance

NASDAQ:GRWG opened at $6.17 on Friday. The stock has a 50-day simple moving average of $4.15 and a two-hundred day simple moving average of $4.50. GrowGeneration Corp. has a 52-week low of $2.92 and a 52-week high of $18.44. The firm has a market capitalization of $375.94 million, a PE ratio of -2.45 and a beta of 2.81.

Analyst Ratings Changes

Separately, Alliance Global Partners reduced their price objective on GrowGeneration from C$4.50 to C$4.00 and set a “neutral” rating for the company in a research report on Tuesday, November 8th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat, GrowGeneration presently has an average rating of “Hold” and an average price target of $10.36.

GrowGeneration Company Profile

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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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Institutional Ownership by Quarter for GrowGeneration (NASDAQ:GRWG)

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