GrowGeneration Corp. (NASDAQ:GRWG) Sees Significant Drop in Short Interest

GrowGeneration Corp. (NASDAQ:GRWG) saw a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 3,300,000 shares, a decrease of 8.3% from the January 15th total of 3,600,000 shares. Approximately 6.1% of the shares of the stock are sold short. Based on an average trading volume of 718,800 shares, the short-interest ratio is presently 4.6 days.

GrowGeneration Price Performance

Shares of NASDAQ:GRWG traded up $0.02 on Monday, reaching $1.43. 487,755 shares of the company traded hands, compared to its average volume of 599,153. The company’s 50 day moving average is $1.57 and its 200-day moving average is $1.85. The stock has a market capitalization of $84.71 million, a PE ratio of -1.64 and a beta of 3.09. GrowGeneration has a fifty-two week low of $1.35 and a fifty-two week high of $3.38.

Insider Activity

In related news, CEO Darren Lampert acquired 57,467 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was bought at an average price of $1.75 per share, for a total transaction of $100,567.25. Following the transaction, the chief executive officer now owns 1,595,883 shares of the company’s stock, valued at approximately $2,792,795.25. The trade was a 3.74 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Michael Salaman acquired 58,476 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were bought at an average price of $1.74 per share, with a total value of $101,748.24. Following the transaction, the president now directly owns 1,503,848 shares in the company, valued at approximately $2,616,695.52. The trade was a 4.05 % increase in their position. The disclosure for this purchase can be found here. Insiders own 7.07% of the company’s stock.

Institutional Trading of GrowGeneration

A number of hedge funds have recently modified their holdings of the business. Empowered Funds LLC lifted its holdings in shares of GrowGeneration by 5.3% in the third quarter. Empowered Funds LLC now owns 112,180 shares of the company’s stock valued at $239,000 after purchasing an additional 5,628 shares in the last quarter. American Century Companies Inc. increased its stake in shares of GrowGeneration by 8.0% in the fourth quarter. American Century Companies Inc. now owns 108,910 shares of the company’s stock worth $184,000 after acquiring an additional 8,077 shares during the last quarter. Barclays PLC increased its stake in shares of GrowGeneration by 12.0% in the fourth quarter. Barclays PLC now owns 84,528 shares of the company’s stock worth $143,000 after acquiring an additional 9,076 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of GrowGeneration by 13.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 80,998 shares of the company’s stock worth $137,000 after acquiring an additional 9,613 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of GrowGeneration in the fourth quarter worth $27,000. Hedge funds and other institutional investors own 36.02% of the company’s stock.

About GrowGeneration

GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. The company engages in the marketing and distribution of nutrients, additives, growing media, lighting, and environmental control systems, as well as other indoor and outdoor growing products.