GrowGeneration (NASDAQ:GRWG) Shares Down 2.6% – Time to Sell?

GrowGeneration Corp. (NASDAQ:GRWG) shares dropped 2.6% on Monday . The company traded as low as $1.4850 and last traded at $1.50. Approximately 396,437 shares changed hands during trading, a decline of 65% from the average daily volume of 1,146,756 shares. The stock had previously closed at $1.54.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of GrowGeneration in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $2.50.

GrowGeneration Stock Down 2.6%

The firm’s fifty day moving average price is $1.60 and its 200 day moving average price is $1.48. The stock has a market cap of $89.76 million, a PE ratio of -2.24 and a beta of 2.38.

GrowGeneration (NASDAQ:GRWG) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.05. GrowGeneration had a negative net margin of 24.77% and a negative return on equity of 29.82%. The company had revenue of $47.25 million for the quarter, compared to the consensus estimate of $41.56 million. As a group, analysts anticipate that GrowGeneration Corp. will post -0.58 earnings per share for the current fiscal year.

Insider Activity at GrowGeneration

In related news, CEO Darren Lampert sold 56,540 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $1.61, for a total value of $91,029.40. Following the sale, the chief executive officer directly owned 1,651,702 shares in the company, valued at approximately $2,659,240.22. The trade was a 3.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.62% of the company’s stock.

Institutional Trading of GrowGeneration

Several hedge funds have recently modified their holdings of the company. Catalyst Funds Management Pty Ltd bought a new position in shares of GrowGeneration during the 2nd quarter valued at approximately $25,000. Engineers Gate Manager LP bought a new stake in GrowGeneration in the second quarter worth $26,000. AQR Capital Management LLC purchased a new stake in GrowGeneration during the first quarter valued at $27,000. Scientech Research LLC bought a new position in GrowGeneration during the third quarter valued at $37,000. Finally, XTX Topco Ltd purchased a new position in shares of GrowGeneration in the 2nd quarter worth $55,000. 36.02% of the stock is owned by hedge funds and other institutional investors.

GrowGeneration Company Profile

GrowGeneration Corp. is the largest chain of specialty hydroponic and organic garden centers in the United States, serving commercial and home growers of all experience levels. The company offers a broad assortment of cultivation supplies, including high-efficiency LED lighting, climate control systems, irrigation and fertigation equipment, growing media and nutrients. Through its retail outlets and e-commerce platform, GrowGeneration caters to indoor and outdoor horticultural operations, with a particular focus on the rapidly expanding legal cannabis market.

In addition to its product offerings, GrowGeneration provides design, consulting and project management services for turnkey cultivation facilities.