GrowGeneration (NASDAQ:GRWG) Price Target Lowered to $2.50 at Stifel Nicolaus

GrowGeneration (NASDAQ:GRWG) had its target price lowered by Stifel Nicolaus from $2.55 to $2.50 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 5.93% from the company’s previous close.

Several other equities research analysts also recently issued reports on the company. Roth Mkm increased their price objective on GrowGeneration from $2.25 to $2.75 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Lake Street Capital cut their price target on GrowGeneration from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Friday.

GrowGeneration Stock Down 2.5 %

Shares of GRWG traded down $0.06 during trading on Monday, reaching $2.36. The company’s stock had a trading volume of 204,176 shares, compared to its average volume of 968,794. The company has a fifty day moving average of $2.41 and a two-hundred day moving average of $2.41. GrowGeneration has a twelve month low of $1.77 and a twelve month high of $4.06. The company has a market cap of $143.28 million, a price-to-earnings ratio of -2.99 and a beta of 3.09.

GrowGeneration (NASDAQ:GRWG) last issued its earnings results on Wednesday, May 8th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.04). GrowGeneration had a negative return on equity of 18.00% and a negative net margin of 22.68%. The company had revenue of $47.89 million during the quarter, compared to analyst estimates of $46.52 million. As a group, equities analysts forecast that GrowGeneration will post -0.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in shares of GrowGeneration by 6.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 194,974 shares of the company’s stock valued at $419,000 after acquiring an additional 11,742 shares during the last quarter. Baader Bank Aktiengesellschaft grew its holdings in GrowGeneration by 44.0% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 180,000 shares of the company’s stock valued at $387,000 after buying an additional 55,000 shares during the last quarter. Tidal Investments LLC acquired a new stake in GrowGeneration in the 1st quarter valued at approximately $5,934,000. AWM Investment Company Inc. grew its holdings in GrowGeneration by 17.8% in the 1st quarter. AWM Investment Company Inc. now owns 1,001,692 shares of the company’s stock valued at $2,865,000 after buying an additional 151,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of GrowGeneration by 47.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 69,104 shares of the company’s stock worth $198,000 after purchasing an additional 22,269 shares in the last quarter. Institutional investors and hedge funds own 36.02% of the company’s stock.

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.