GrowGeneration (NASDAQ:GRWG) Shares Gap Down on Analyst Downgrade

Shares of GrowGeneration Corp. (NASDAQ:GRWG) gapped down before the market opened on Friday after Stifel Nicolaus lowered their price target on the stock from $24.00 to $10.00. The stock had previously closed at $9.90, but opened at $9.51. GrowGeneration shares last traded at $9.71, with a volume of 8,657 shares traded.

A number of other analysts also recently weighed in on GRWG. Lake Street Capital decreased their price target on shares of GrowGeneration from $44.00 to $19.00 in a research report on Thursday. Craig Hallum downgraded shares of GrowGeneration from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $30.00 to $12.50 in a report on Friday. Alliance Global Partners decreased their price objective on shares of GrowGeneration from $35.00 to $20.00 in a report on Thursday. Zacks Investment Research downgraded shares of GrowGeneration from a “hold” rating to a “sell” rating in a report on Monday, October 18th. Finally, Roth Capital decreased their price objective on shares of GrowGeneration from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, November 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, GrowGeneration presently has an average rating of “Hold” and an average target price of $26.83.

Institutional investors and hedge funds have recently modified their holdings of the stock. Teacher Retirement System of Texas grew its stake in shares of GrowGeneration by 20.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 5,398 shares of the company’s stock valued at $260,000 after buying an additional 898 shares in the last quarter. US Bancorp DE raised its stake in shares of GrowGeneration by 26.9% in the second quarter. US Bancorp DE now owns 5,075 shares of the company’s stock valued at $244,000 after purchasing an additional 1,075 shares in the last quarter. Rhumbline Advisers raised its stake in shares of GrowGeneration by 31.1% in the second quarter. Rhumbline Advisers now owns 52,695 shares of the company’s stock valued at $2,535,000 after purchasing an additional 12,495 shares in the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of GrowGeneration in the second quarter valued at $37,000. Finally, HighTower Advisors LLC raised its stake in shares of GrowGeneration by 18.5% in the second quarter. HighTower Advisors LLC now owns 12,608 shares of the company’s stock valued at $606,000 after purchasing an additional 1,968 shares in the last quarter. 39.74% of the stock is currently owned by hedge funds and other institutional investors.

The business has a 50-day simple moving average of $15.72 and a two-hundred day simple moving average of $26.47. The stock has a market capitalization of $559.11 million, a P/E ratio of 30.26 and a beta of 2.65.

GrowGeneration (NASDAQ:GRWG) last issued its quarterly earnings results on Thursday, November 11th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). GrowGeneration had a net margin of 4.67% and a return on equity of 5.24%. The firm had revenue of $116.00 million for the quarter, compared to analyst estimates of $115.28 million. During the same period last year, the company earned $0.06 EPS. Sell-side analysts anticipate that GrowGeneration Corp. will post 0.29 earnings per share for the current year.

GrowGeneration Company Profile (NASDAQ:GRWG)

GrowGeneration Corp. engages in the retail of hydroponic and organic specialty gardening products. It offers lighting fixtures, nutrients, seeds and growing media systems, trays, fans, filters, humidifiers and dehumidifiers, timers, instruments, water pumps, irrigation supplies, and hand tools. The company was founded by Darren Lampert and Michael Salaman on March 6, 2014 and is headquartered in Denver, CO.

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