GrowGeneration Corp. (NASDAQ:GRWG) Sees Large Decrease in Short Interest

GrowGeneration Corp. (NASDAQ:GRWG) saw a large decline in short interest in October. As of October 31st, there was short interest totalling 3,630,000 shares, a decline of 6.0% from the October 15th total of 3,860,000 shares. Approximately 6.7% of the shares of the stock are short sold. Based on an average trading volume of 487,900 shares, the days-to-cover ratio is presently 7.4 days.

Insider Buying and Selling

In related news, Director Eula L. Adams purchased 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were purchased at an average cost of $2.02 per share, with a total value of $50,500.00. Following the purchase, the director now owns 25,000 shares of the company’s stock, valued at $50,500. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.07% of the stock is owned by insiders.

Hedge Funds Weigh In On GrowGeneration

Institutional investors have recently bought and sold shares of the company. Tidal Investments LLC acquired a new stake in shares of GrowGeneration during the 1st quarter worth approximately $5,934,000. AWM Investment Company Inc. increased its stake in GrowGeneration by 17.8% during the first quarter. AWM Investment Company Inc. now owns 1,001,692 shares of the company’s stock worth $2,865,000 after acquiring an additional 151,000 shares during the last quarter. Jane Street Group LLC raised its position in GrowGeneration by 120.0% in the third quarter. Jane Street Group LLC now owns 166,798 shares of the company’s stock valued at $355,000 after purchasing an additional 90,966 shares during the period. Barclays PLC lifted its stake in shares of GrowGeneration by 274.2% in the 3rd quarter. Barclays PLC now owns 75,452 shares of the company’s stock valued at $161,000 after purchasing an additional 55,290 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft lifted its stake in shares of 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 purchasing an additional 55,000 shares during the last quarter. 36.02% of the stock is owned by hedge funds and other institutional investors.

GrowGeneration Stock Down 5.6 %

NASDAQ GRWG opened at $1.68 on Monday. The business’s fifty day simple moving average is $2.03 and its 200-day simple moving average is $2.23. The firm has a market cap of $99.53 million, a PE ratio of -1.93 and a beta of 3.14. GrowGeneration has a 52 week low of $1.55 and a 52 week high of $3.38.

Analyst Upgrades and Downgrades

GRWG has been the topic of a number of research analyst reports. Roth Mkm lowered their price target on GrowGeneration from $2.75 to $2.25 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Stifel Nicolaus lowered their target price on shares of GrowGeneration from $2.55 to $2.50 and set a “hold” rating on the stock in a research note on Monday, July 29th. Lake Street Capital reduced their target price on shares of GrowGeneration from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Finally, Alliance Global Partners decreased their price target on shares of GrowGeneration from $2.75 to $2.25 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $2.75.

GrowGeneration Company Profile

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.