Monaco Asset Management SAM Invests $1.77 Million in GrowGeneration Corp. $GRWG

Monaco Asset Management SAM purchased a new position in GrowGeneration Corp. (NASDAQ:GRWG) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 1,199,225 shares of the company’s stock, valued at approximately $1,775,000. GrowGeneration comprises approximately 0.1% of Monaco Asset Management SAM’s portfolio, making the stock its 23rd biggest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE grew its stake in GrowGeneration by 36.7% during the 4th quarter. Bank of America Corp DE now owns 60,104 shares of the company’s stock valued at $102,000 after purchasing an additional 16,132 shares in the last quarter. AQR Capital Management LLC purchased a new stake in GrowGeneration during the 1st quarter worth approximately $27,000. XTX Topco Ltd acquired a new position in shares of GrowGeneration in the 2nd quarter valued at approximately $55,000. Jane Street Group LLC raised its position in shares of GrowGeneration by 1,193.2% in the 2nd quarter. Jane Street Group LLC now owns 792,229 shares of the company’s stock valued at $741,000 after purchasing an additional 730,968 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new position in shares of GrowGeneration in the 2nd quarter valued at approximately $26,000. Hedge funds and other institutional investors own 36.02% of the company’s stock.

GrowGeneration Stock Performance

Shares of GRWG stock opened at $1.77 on Monday. The stock has a market capitalization of $104.29 million, a price-to-earnings ratio of -6.56 and a beta of 2.51. GrowGeneration Corp. has a one year low of $1.00 and a one year high of $2.40. The company’s 50-day simple moving average is $1.49 and its 200-day simple moving average is $1.35.

GrowGeneration (NASDAQ:GRWG) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. GrowGeneration had a negative return on equity of 17.44% and a negative net margin of 10.07%.The firm had revenue of $43.22 million during the quarter, compared to analyst estimates of $42.75 million. As a group, research analysts forecast that GrowGeneration Corp. will post -0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GRWG. Alliance Global Partners raised shares of GrowGeneration from a “neutral” rating to a “buy” rating and set a $2.50 price target for the company in a research report on Wednesday, August 12th. Weiss Ratings cut shares of GrowGeneration from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 7th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, GrowGeneration presently has an average rating of “Hold” and a consensus target price of $2.50.

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.