FY2024 EPS Estimates for GrowGeneration Lowered by Analyst

GrowGeneration Corp. (NASDAQ:GRWG) – Equities researchers at Alliance Global Partners reduced their FY2024 EPS estimates for shares of GrowGeneration in a research report issued on Wednesday, November 13th. Alliance Global Partners analyst A. Grey now expects that the company will post earnings of ($0.59) per share for the year, down from their previous forecast of ($0.47). Alliance Global Partners currently has a “Neutral” rating and a $2.25 target price on the stock. The consensus estimate for GrowGeneration’s current full-year earnings is ($0.53) per share. Alliance Global Partners also issued estimates for GrowGeneration’s Q4 2024 earnings at ($0.16) EPS, Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.06) EPS, Q4 2025 earnings at ($0.06) EPS and FY2025 earnings at ($0.30) EPS.

Several other equities analysts have also issued reports on GRWG. Lake Street Capital decreased their price objective on GrowGeneration from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Stifel Nicolaus lowered their price objective on shares of GrowGeneration from $2.55 to $2.50 and set a “hold” rating for the company in a research report on Monday, July 29th. Finally, Roth Mkm cut their price objective on shares of GrowGeneration from $2.75 to $2.25 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Four investment 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 has a consensus rating of “Hold” and a consensus target price of $2.75.

GrowGeneration Trading Down 5.6 %

NASDAQ:GRWG opened at $1.68 on Monday. GrowGeneration has a 1 year low of $1.55 and a 1 year high of $3.38. The stock has a 50-day moving average price of $2.03 and a two-hundred day moving average price of $2.23. The stock has a market cap of $99.52 million, a price-to-earnings ratio of -1.93 and a beta of 3.14.

Insiders Place Their Bets

In related news, Director Eula L. Adams bought 25,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were acquired at an average price of $2.02 per share, with a total value of $50,500.00. Following the completion of the transaction, the director now owns 25,000 shares in the company, valued at $50,500. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 7.07% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Tidal Investments LLC acquired a new position in shares of GrowGeneration during the 1st quarter worth approximately $5,934,000. Vanguard Group Inc. grew its stake in shares of GrowGeneration by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,992,591 shares of the company’s stock valued at $8,559,000 after buying an additional 21,306 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of GrowGeneration by 47.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 69,104 shares of the company’s stock valued at $198,000 after buying an additional 22,269 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in GrowGeneration by 6.4% during the second quarter. Bank of New York Mellon Corp now owns 194,974 shares of the company’s stock worth $419,000 after buying an additional 11,742 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in GrowGeneration by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,411,087 shares of the company’s stock worth $3,034,000 after acquiring an additional 43,701 shares in the last quarter. 36.02% of the stock is owned by institutional investors and hedge funds.

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.