GrowGeneration (NASDAQ:GRWG) Downgraded by Alliance Global Partners to “Neutral”

Alliance Global Partners downgraded shares of GrowGeneration (NASDAQ:GRWGGet Rating) from a buy rating to a neutral rating in a report released on Friday morning, MarketBeat.com reports. The brokerage currently has $4.50 price objective on the stock, down from their previous price objective of $7.00.

GRWG has been the topic of a number of other reports. Oppenheimer reduced their target price on shares of GrowGeneration from $50.00 to $15.00 in a research report on Thursday, May 12th. Wells Fargo & Company dropped their price objective on shares of GrowGeneration from $8.00 to $4.00 in a research note on Wednesday, May 11th. Finally, TheStreet downgraded shares of GrowGeneration from a c- rating to a d rating in a research note on Wednesday, June 8th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, GrowGeneration currently has an average rating of Hold and an average price target of $10.43.

GrowGeneration Price Performance

GRWG opened at $4.85 on Friday. The firm has a 50-day simple moving average of $4.44 and a two-hundred day simple moving average of $6.55. GrowGeneration has a 52 week low of $3.42 and a 52 week high of $44.00.

GrowGeneration (NASDAQ:GRWGGet Rating) last announced its earnings results on Tuesday, May 10th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The business had revenue of $81.80 million for the quarter, compared to analysts’ expectations of $83.57 million. GrowGeneration had a negative net margin of 39.40% and a negative return on equity of 3.71%. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 earnings per share. As a group, equities research analysts anticipate that GrowGeneration will post -0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On GrowGeneration

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC boosted its position in GrowGeneration by 48.3% during the first quarter. CWM LLC now owns 4,386 shares of the company’s stock worth $40,000 after acquiring an additional 1,428 shares during the last quarter. Financial Advocates Investment Management boosted its holdings in GrowGeneration by 17.5% in the 1st quarter. Financial Advocates Investment Management now owns 16,722 shares of the company’s stock valued at $154,000 after purchasing an additional 2,490 shares during the last quarter. Northern Trust Corp boosted its holdings in GrowGeneration by 0.5% in the 4th quarter. Northern Trust Corp now owns 559,258 shares of the company’s stock valued at $7,298,000 after purchasing an additional 2,510 shares during the last quarter. Captrust Financial Advisors boosted its holdings in GrowGeneration by 644.4% in the 1st quarter. Captrust Financial Advisors now owns 3,000 shares of the company’s stock valued at $28,000 after purchasing an additional 2,597 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of GrowGeneration by 828.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,250 shares of the company’s stock valued at $30,000 after acquiring an additional 2,900 shares during the period. 44.93% of the stock is currently owned by institutional investors and hedge funds.

About GrowGeneration

(Get Rating)

GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. It engages in the marketing and distribution of nutrients, growing media, advanced indoor and greenhouse lighting, environmental control systems, vertical benching, and accessories for hydroponic gardening, as well as other indoor and outdoor growing products.

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Analyst Recommendations for GrowGeneration (NASDAQ:GRWG)

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