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

GrowGeneration Corp. (NASDAQ:GRWG) was the recipient of a significant 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. Currently, 6.7% of the company’s shares are short sold. Based on an average trading volume of 487,900 shares, the short-interest ratio is currently 7.4 days.

Insiders Place Their Bets

In other news, Director Eula L. Adams purchased 25,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were bought at an average cost of $2.02 per share, for a total transaction of $50,500.00. Following the completion of the acquisition, the director now directly owns 25,000 shares in the company, valued at approximately $50,500. This trade represents a ? increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.07% of the company’s stock.

Institutional Trading of GrowGeneration

A number of hedge funds and other institutional investors have recently modified their holdings of GRWG. Tidal Investments LLC acquired a new stake in shares of GrowGeneration in the first quarter valued at about $5,934,000. AWM Investment Company Inc. increased its position 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 buying an additional 151,000 shares during the last quarter. Jane Street Group LLC increased its position in GrowGeneration by 120.0% during the third quarter. Jane Street Group LLC now owns 166,798 shares of the company’s stock worth $355,000 after buying an additional 90,966 shares during the last quarter. Barclays PLC increased its position in GrowGeneration by 274.2% during the third 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 last quarter. Finally, Baader Bank Aktiengesellschaft increased its position in GrowGeneration by 44.0% during the second quarter. Baader Bank Aktiengesellschaft now owns 180,000 shares of the company’s stock worth $387,000 after buying an additional 55,000 shares during the last quarter. Institutional investors and hedge funds own 36.02% of the company’s stock.

GrowGeneration Stock Performance

NASDAQ:GRWG opened at $1.75 on Wednesday. The stock’s 50-day simple moving average is $2.02 and its 200 day simple moving average is $2.22. The company has a market cap of $103.67 million, a P/E ratio of -2.01 and a beta of 3.14. GrowGeneration has a 52-week low of $1.55 and a 52-week high of $3.38.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GRWG. Alliance Global Partners cut their price target on GrowGeneration from $2.75 to $2.25 and set a “neutral” rating on the stock in a report on Friday, August 9th. Lake Street Capital cut their price target on GrowGeneration from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Roth Mkm cut their price target on GrowGeneration from $2.75 to $2.25 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, Stifel Nicolaus cut their price target on GrowGeneration from $2.55 to $2.50 and set a “hold” rating on the stock in a report on Monday, July 29th. 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 company presently has a consensus rating of “Hold” and an average 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.