GrowGeneration Corp. (NASDAQ:GRWG) Short Interest Up 13.8% in March

GrowGeneration Corp. (NASDAQ:GRWG) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 4,360,000 shares, an increase of 13.8% from the March 15th total of 3,830,000 shares. Approximately 7.6% of the shares of the company are sold short. Based on an average daily volume of 1,150,000 shares, the days-to-cover ratio is presently 3.8 days.

Hedge Funds Weigh In On GrowGeneration

Several institutional investors and hedge funds have recently added to or reduced their stakes in GRWG. Captrust Financial Advisors raised its stake in shares of GrowGeneration by 644.4% during the first quarter. Captrust Financial Advisors now owns 3,000 shares of the company’s stock valued at $28,000 after acquiring an additional 2,597 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new stake in GrowGeneration in the second quarter worth $36,000. Principal Financial Group Inc. acquired a new stake in GrowGeneration in the first quarter worth $93,000. AdvisorNet Financial Inc grew its holdings in GrowGeneration by 96.2% in the third quarter. AdvisorNet Financial Inc now owns 10,196 shares of the company’s stock worth $30,000 after purchasing an additional 5,000 shares during the period. Finally, Koshinski Asset Management Inc. acquired a new stake in GrowGeneration in the fourth quarter worth $29,000. Institutional investors own 36.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer lowered shares of GrowGeneration from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 20th.

GrowGeneration Trading Down 2.2 %

Shares of NASDAQ:GRWG traded down $0.05 on Tuesday, reaching $2.23. 815,348 shares of the company’s stock were exchanged, compared to its average volume of 1,140,775. The company has a fifty day moving average of $2.33 and a 200-day moving average of $2.41. GrowGeneration has a twelve month low of $1.77 and a twelve month high of $5.00. The company has a market capitalization of $137.15 million, a price-to-earnings ratio of -2.97 and a beta of 3.01.

GrowGeneration (NASDAQ:GRWG) last announced its earnings results on Wednesday, March 13th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). GrowGeneration had a negative return on equity of 15.60% and a negative net margin of 20.58%. The business had revenue of $49.45 million for the quarter, compared to analyst estimates of $46.03 million. As a group, equities research analysts forecast that GrowGeneration will post -0.32 EPS for the current fiscal year.

GrowGeneration Company Profile

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.