GrowGeneration (NASDAQ:GRWG) Stock Price Up 4.5% – Here’s Why

GrowGeneration Corp. (NASDAQ:GRWG) shares shot up 4.5% during trading on Thursday . The stock traded as high as $1.20 and last traded at $1.17. 515,152 shares were traded during trading, an increase of 60% from the average session volume of 321,033 shares. The stock had previously closed at $1.12.

Wall Street Analyst Weigh In

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

GrowGeneration Stock Up 4.5%

The firm has a 50 day moving average price of $1.48 and a 200 day moving average price of $1.55. The stock has a market capitalization of $70.01 million, a PE ratio of -1.75 and a beta of 2.42.

Hedge Funds Weigh In On GrowGeneration

Several institutional investors have recently added to or reduced their stakes in GRWG. Scientech Research LLC purchased a new stake in shares of GrowGeneration during the 3rd quarter worth approximately $37,000. AQR Capital Management LLC purchased a new position in GrowGeneration in the first quarter valued at approximately $27,000. Catalyst Funds Management Pty Ltd bought a new position in GrowGeneration during the second quarter valued at $25,000. Janney Montgomery Scott LLC purchased a new stake in GrowGeneration in the fourth quarter worth $42,000. Finally, Engineers Gate Manager LP purchased a new stake in GrowGeneration in the second quarter worth $26,000. Institutional investors own 36.02% of the company’s stock.

About GrowGeneration

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.