GrowGeneration Corp. (NASDAQ:GRWG) President Purchases $101,748.24 in Stock

GrowGeneration Corp. (NASDAQ:GRWG) President Michael Salaman purchased 58,476 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were acquired at an average price of $1.74 per share, for a total transaction of $101,748.24. Following the completion of the transaction, the president now directly owns 1,503,848 shares of the company’s stock, valued at $2,616,695.52. The trade was a 4.05 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

GrowGeneration Price Performance

GrowGeneration stock opened at $1.86 on Friday. The company’s 50 day simple moving average is $2.01 and its 200-day simple moving average is $2.21. GrowGeneration Corp. has a 1 year low of $1.55 and a 1 year high of $3.38.

Institutional Investors Weigh In On GrowGeneration

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in shares of GrowGeneration in the 3rd quarter valued at approximately $42,000. Price T Rowe Associates Inc. MD increased its stake in 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 buying an additional 22,269 shares during the period. Barclays PLC increased its stake in GrowGeneration by 274.2% during the 3rd quarter. Barclays PLC now owns 75,452 shares of the company’s stock worth $161,000 after buying an additional 55,290 shares during the period. Virtu Financial LLC increased its stake in GrowGeneration by 510.6% during the 3rd quarter. Virtu Financial LLC now owns 81,655 shares of the company’s stock worth $174,000 after buying an additional 68,282 shares during the period. Finally, American Century Companies Inc. increased its stake in GrowGeneration by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 84,823 shares of the company’s stock worth $182,000 after buying an additional 12,197 shares during the period. 36.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on GRWG. Stifel Nicolaus reduced 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. Alliance Global Partners reduced their target price 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. Roth Mkm reduced their target price 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. Finally, Lake Street Capital reduced their target price on shares of GrowGeneration from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.