GrowGeneration (OTCMKTS:GRWG) Shares Down 2.8% on Insider Selling

Shares of GrowGeneration Corp (OTCMKTS:GRWG) traded down 2.8% during mid-day trading on Monday following insider selling activity. The stock traded as low as $6.33 and last traded at $6.35, 606,112 shares traded hands during trading. An increase of 8% from the average session volume of 559,656 shares. The stock had previously closed at $6.53.

Specifically, major shareholder Gotham Green Partners Llc sold 32,000 shares of the firm’s stock in a transaction dated Friday, June 19th. The stock was sold at an average price of $7.41, for a total transaction of $237,120.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Merida Capital Partners, Lp sold 36,032 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $7.16, for a total value of $257,989.12. The disclosure for this sale can be found here. Insiders sold 187,842 shares of company stock worth $1,314,188 in the last three months.

GRWG has been the topic of a number of research analyst reports. Lake Street Capital raised their price target on GrowGeneration from $5.50 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Craig Hallum began coverage on GrowGeneration in a research report on Tuesday, March 10th. They issued a “buy” rating and a $7.00 target price on the stock. Finally, Benchmark began coverage on GrowGeneration in a research report on Wednesday, May 20th. They issued a “buy” rating and a $8.00 target price on the stock. Six research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus price target of $7.42.

The company has a current ratio of 4.20, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12. The company has a 50 day moving average price of $6.42 and a 200 day moving average price of $4.98. The company has a market capitalization of $270.78 million, a P/E ratio of -32.57 and a beta of 1.90.

GrowGeneration (OTCMKTS:GRWG) last issued its earnings results on Thursday, May 14th. The company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.09). The business had revenue of $32.98 million for the quarter, compared to the consensus estimate of $31.59 million. GrowGeneration had a positive return on equity of 5.23% and a negative net margin of 0.10%. As a group, sell-side analysts forecast that GrowGeneration Corp will post 0.15 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Citigroup Inc. lifted its holdings in GrowGeneration by 1,349.8% during the 1st quarter. Citigroup Inc. now owns 9,424 shares of the company’s stock worth $36,000 after purchasing an additional 8,774 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new position in GrowGeneration in the 1st quarter valued at $67,000. Penserra Capital Management LLC acquired a new position in GrowGeneration in the 4th quarter valued at $112,000. Formidable Asset Management LLC acquired a new position in GrowGeneration in the 4th quarter valued at $113,000. Finally, Morgan Stanley raised its holdings in GrowGeneration by 563.7% in the 1st quarter. Morgan Stanley now owns 29,865 shares of the company’s stock valued at $114,000 after acquiring an additional 25,365 shares in the last quarter. 1.86% of the stock is owned by institutional investors and hedge funds.

About GrowGeneration (OTCMKTS:GRWG)

GrowGeneration Corp., through its subsidiaries, operates retail hydroponic stores. It offers farming soil, hydroponic equipment, lighting, plant nutrients, and various other products. The company serves home growers of organic vegetables and fruits, do-it yourselfers, and growers in the cannabis related markets.

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