GrowGeneration (NASDAQ:GRWG) Price Target Lowered to $2.50 at Lake Street Capital

GrowGeneration (NASDAQ:GRWG) had its price target lowered by Lake Street Capital from $4.00 to $2.50 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

GrowGeneration Trading Down 15.4 %

GrowGeneration stock opened at $1.04 on Friday. The stock has a market cap of $61.87 million, a P/E ratio of -1.20 and a beta of 3.57. The company has a fifty day simple moving average of $1.05 and a 200-day simple moving average of $1.45. GrowGeneration has a 12-month low of $0.82 and a 12-month high of $3.09.

GrowGeneration (NASDAQ:GRWG) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.02). GrowGeneration had a negative return on equity of 23.73% and a negative net margin of 26.62%. As a group, sell-side analysts forecast that GrowGeneration will post -0.58 earnings per share for the current fiscal year.

Insider Activity

In other news, President Michael Salaman acquired 85,465 shares of GrowGeneration stock in a transaction on Wednesday, March 19th. The stock was bought at an average price of $1.21 per share, for a total transaction of $103,412.65. Following the completion of the purchase, the president now owns 1,639,313 shares in the company, valued at $1,983,568.73. This represents a 5.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Darren Lampert bought 82,639 shares of the stock in a transaction dated Wednesday, March 19th. The shares were acquired at an average price of $1.19 per share, for a total transaction of $98,340.41. Following the completion of the transaction, the chief executive officer now owns 1,728,522 shares of the company’s stock, valued at approximately $2,056,941.18. The trade was a 5.02 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 7.07% of the company’s stock.

Institutional Trading of GrowGeneration

A number of large investors have recently bought and sold shares of GRWG. Monaco Asset Management SAM acquired a new position in shares of GrowGeneration in the fourth quarter valued at approximately $783,000. Renaissance Technologies LLC purchased a new stake in shares of GrowGeneration during the 4th quarter worth $431,000. Deutsche Bank AG increased its holdings in shares of GrowGeneration by 449.9% in the 4th quarter. Deutsche Bank AG now owns 127,091 shares of the company’s stock valued at $215,000 after purchasing an additional 103,981 shares in the last quarter. Barclays PLC lifted its stake in shares of GrowGeneration by 274.2% in the third quarter. Barclays PLC now owns 75,452 shares of the company’s stock valued at $161,000 after purchasing an additional 55,290 shares during the period. Finally, Wealthfront Advisers LLC purchased a new stake in GrowGeneration during the fourth quarter worth about $62,000. Institutional investors and hedge funds own 36.02% of the company’s stock.

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.