GrowGeneration (NASDAQ:GRWG) Hits New 1-Year Low on Analyst Downgrade

GrowGeneration Corp. (NASDAQ:GRWG)’s stock price reached a new 52-week low during trading on Thursday after Stifel Nicolaus lowered their price target on the stock from $24.00 to $10.00. The company traded as low as $9.83 and last traded at $10.16, with a volume of 34388 shares traded. The stock had previously closed at $11.10.

GRWG has been the topic of a number of other research reports. Roth Capital dropped their price objective on GrowGeneration from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, November 11th. Craig Hallum cut GrowGeneration from a “buy” rating to a “hold” rating and decreased their target price for the stock from $30.00 to $12.50 in a research report on Friday. Lake Street Capital decreased their target price on GrowGeneration from $44.00 to $19.00 in a research report on Thursday. Wells Fargo & Company started coverage on GrowGeneration in a research report on Monday, December 6th. They set an “equal weight” rating and a $18.00 target price for the company. Finally, Alliance Global Partners decreased their target price on GrowGeneration from $35.00 to $20.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $26.83.

Institutional investors and hedge funds have recently bought and sold shares of the company. Concorde Asset Management LLC boosted its position in shares of GrowGeneration by 387.6% in the third quarter. Concorde Asset Management LLC now owns 23,308 shares of the company’s stock valued at $575,000 after acquiring an additional 18,528 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of GrowGeneration by 34.1% in the second quarter. UBS Asset Management Americas Inc. now owns 47,836 shares of the company’s stock valued at $2,301,000 after acquiring an additional 12,171 shares during the period. Gainplan LLC bought a new position in GrowGeneration in the second quarter worth $249,000. Professional Advisory Services Inc. bought a new position in GrowGeneration in the second quarter worth $361,000. Finally, Amundi bought a new position in GrowGeneration in the second quarter worth $10,037,000. 39.74% of the stock is owned by institutional investors.

The stock has a market capitalization of $559.11 million, a P/E ratio of 30.26 and a beta of 2.65. The firm has a 50-day moving average of $15.72 and a 200 day moving average of $26.47.

GrowGeneration (NASDAQ:GRWG) last issued its earnings results on Thursday, November 11th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). The firm had revenue of $116.00 million during the quarter, compared to the consensus estimate of $115.28 million. GrowGeneration had a return on equity of 5.24% and a net margin of 4.67%. During the same period last year, the business earned $0.06 earnings per share. Research analysts anticipate that GrowGeneration Corp. will post 0.29 EPS for the current fiscal year.

About GrowGeneration (NASDAQ:GRWG)

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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