GrowGeneration (NASDAQ:GRWG) Reaches New 1-Year Low on Analyst Downgrade

GrowGeneration Corp. (NASDAQ:GRWG)’s stock price reached a new 52-week low on Thursday after Stifel Nicolaus lowered their price target on the stock from $24.00 to $10.00. The company traded as low as $9.83 and last traded at $10.16, with a volume of 34388 shares changing hands. The stock had previously closed at $11.10.

A number of other analysts have also recently weighed in on GRWG. Roth Capital lowered their price target on shares of GrowGeneration from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, November 11th. Craig Hallum lowered shares of GrowGeneration from a “buy” rating to a “hold” rating and decreased their price objective for the company from $30.00 to $12.50 in a research report on Friday. Zacks Investment Research lowered shares of GrowGeneration from a “hold” rating to a “sell” rating in a research report on Monday, October 18th. Lake Street Capital decreased their price objective on shares of GrowGeneration from $44.00 to $19.00 in a research report on Thursday. Finally, Wells Fargo & Company initiated coverage on shares of GrowGeneration in a research report on Monday, December 6th. They issued an “equal weight” rating and a $18.00 price objective for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $26.83.

A number of institutional investors and hedge funds have recently bought and sold shares of GRWG. Farmers & Merchants Investments Inc. purchased a new position in GrowGeneration during the 3rd quarter worth approximately $25,000. Mark Sheptoff Financial Planning LLC purchased a new position in GrowGeneration during the 2nd quarter worth approximately $29,000. Nisa Investment Advisors LLC purchased a new position in GrowGeneration during the 2nd quarter worth approximately $37,000. IFP Advisors Inc raised its position in GrowGeneration by 41.3% during the 3rd quarter. IFP Advisors Inc now owns 1,652 shares of the company’s stock worth $42,000 after buying an additional 483 shares during the last quarter. Finally, TFO TDC LLC purchased a new position in shares of GrowGeneration during the 3rd quarter valued at approximately $54,000. 39.74% of the stock is owned by institutional investors.

The stock has a market capitalization of $559.11 million, a PE ratio of 30.26 and a beta of 2.65. The firm’s fifty day moving average price is $15.72 and its two-hundred day moving average price is $26.47.

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

About GrowGeneration (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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