GrowGeneration (NASDAQ:GRWG) Shares Down 3.5% – Time to Sell?

GrowGeneration Corp. (NASDAQ:GRWG) dropped 3.5% on Wednesday . The stock traded as low as $1.36 and last traded at $1.36. Approximately 398,186 shares changed hands during mid-day trading, an increase of 23% from the average daily volume of 324,112 shares. The stock had previously closed at $1.41.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of GrowGeneration in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.50.

GrowGeneration Stock Performance

The company has a 50-day simple moving average of $1.57 and a two-hundred day simple moving average of $1.54. The firm has a market capitalization of $81.38 million, a P/E ratio of -2.03 and a beta of 2.38.

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

Insider Buying and Selling

In other news, CEO Darren Lampert sold 70,280 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $1.74, for a total transaction of $122,287.20. Following the sale, the chief executive officer owned 1,708,242 shares in the company, valued at approximately $2,972,341.08. The trade was a 3.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 7.62% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GRWG. Bank of America Corp DE grew its holdings in GrowGeneration by 36.7% in the fourth quarter. Bank of America Corp DE now owns 60,104 shares of the company’s stock worth $102,000 after purchasing an additional 16,132 shares during the period. Scientech Research LLC purchased a new stake in shares of GrowGeneration during the third quarter valued at approximately $37,000. AQR Capital Management LLC bought a new stake in shares of GrowGeneration during the first quarter valued at approximately $27,000. Catalyst Funds Management Pty Ltd bought a new position in GrowGeneration in the 2nd quarter valued at approximately $25,000. Finally, Engineers Gate Manager LP purchased a new stake in GrowGeneration during the 2nd quarter valued at $26,000. 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.