GrowGeneration Corp. (NASDAQ:GRWG) Short Interest Up 13.8% in March

GrowGeneration Corp. (NASDAQ:GRWG) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 4,360,000 shares, a growth of 13.8% from the March 15th total of 3,830,000 shares. Approximately 7.6% of the company’s shares are short sold. Based on an average trading volume of 1,150,000 shares, the days-to-cover ratio is presently 3.8 days.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer lowered shares of GrowGeneration from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 20th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of GrowGeneration by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 2,971,285 shares of the company’s stock worth $7,458,000 after buying an additional 58,053 shares in the last quarter. Barclays PLC lifted its holdings in GrowGeneration by 736.2% during the 4th quarter. Barclays PLC now owns 83,373 shares of the company’s stock valued at $209,000 after buying an additional 73,402 shares in the last quarter. Voya Investment Management LLC lifted its holdings in GrowGeneration by 13.2% during the 4th quarter. Voya Investment Management LLC now owns 835,012 shares of the company’s stock valued at $2,096,000 after buying an additional 97,451 shares in the last quarter. Symmetry Peak Management LLC bought a new stake in GrowGeneration during the 4th quarter valued at about $201,000. Finally, Northern Trust Corp lifted its holdings in GrowGeneration by 3.0% during the 4th quarter. Northern Trust Corp now owns 505,552 shares of the company’s stock valued at $1,269,000 after buying an additional 14,848 shares in the last quarter. Institutional investors own 36.02% of the company’s stock.

GrowGeneration Stock Down 2.2 %

GRWG traded down $0.05 on Tuesday, hitting $2.23. The company’s stock had a trading volume of 815,348 shares, compared to its average volume of 1,140,775. GrowGeneration has a 12 month low of $1.77 and a 12 month high of $5.00. The firm has a market cap of $137.15 million, a P/E ratio of -2.97 and a beta of 3.01. The company’s 50 day simple moving average is $2.33 and its 200-day simple moving average is $2.41.

GrowGeneration (NASDAQ:GRWG) last announced its quarterly earnings results on Wednesday, March 13th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). The firm had revenue of $49.45 million during the quarter, compared to the consensus estimate of $46.03 million. GrowGeneration had a negative return on equity of 15.60% and a negative net margin of 20.58%. Equities analysts predict that GrowGeneration will post -0.32 earnings per share for the current fiscal year.

About GrowGeneration

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.