GrowGeneration (NASDAQ:GRWG) CEO Buys $99,351.90 in Stock

GrowGeneration Corp. (NASDAQ:GRWG) CEO Darren Lampert bought 64,098 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were acquired at an average price of $1.55 per share, for a total transaction of $99,351.90. Following the acquisition, the chief executive officer directly owned 1,765,800 shares of the company’s stock, valued at approximately $2,736,990. The trade was a 3.77% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

GrowGeneration Trading Up 2.3%

Shares of GRWG traded up $0.04 during trading hours on Tuesday, hitting $1.56. 504,310 shares of the stock traded hands, compared to its average volume of 442,242. GrowGeneration Corp. has a 1-year low of $0.87 and a 1-year high of $2.40. The firm has a market capitalization of $93.44 million, a PE ratio of -4.86 and a beta of 2.40. The business has a fifty day moving average of $1.20 and a 200-day moving average of $1.37.

GrowGeneration (NASDAQ:GRWG) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. GrowGeneration had a negative return on equity of 19.50% and a negative net margin of 11.91%.The business had revenue of $38.39 million for the quarter, compared to analyst estimates of $36.45 million. As a group, equities research analysts expect that GrowGeneration Corp. will post -0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. AWM Investment Company Inc. grew its holdings in shares of GrowGeneration by 8.7% during the fourth quarter. AWM Investment Company Inc. now owns 3,380,784 shares of the company’s stock worth $5,071,000 after buying an additional 271,249 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of GrowGeneration by 34.5% during the first quarter. Renaissance Technologies LLC now owns 1,370,610 shares of the company’s stock worth $1,508,000 after buying an additional 351,277 shares in the last quarter. Monaco Asset Management SAM boosted its position in GrowGeneration by 37.3% during the fourth quarter. Monaco Asset Management SAM now owns 1,024,125 shares of the company’s stock valued at $1,536,000 after purchasing an additional 278,179 shares during the last quarter. Jane Street Group LLC boosted its position in GrowGeneration by 1,193.2% during the second 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 during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in GrowGeneration by 55.1% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 519,681 shares of the company’s stock valued at $972,000 after purchasing an additional 184,626 shares during the last quarter. 36.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Alliance Global Partners reiterated a “neutral” rating on shares of GrowGeneration in a report on Wednesday, May 13th. Weiss Ratings downgraded GrowGeneration from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 12th. Finally, Zacks Research upgraded GrowGeneration to a “hold” rating in a report on Thursday, March 26th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, GrowGeneration has a consensus rating of “Reduce”.

About GrowGeneration

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.