Insider Buying: GrowGeneration Corp. (NASDAQ:GRWG) Director Purchases $97,570.44 in Stock

GrowGeneration Corp. (NASDAQ:GRWG) Director Stephen Aiello bought 51,084 shares of the stock in a transaction dated Wednesday, August 14th. The shares were purchased at an average cost of $1.91 per share, for a total transaction of $97,570.44. Following the completion of the transaction, the director now directly owns 446,061 shares of the company’s stock, valued at $851,976.51. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

GrowGeneration Price Performance

NASDAQ GRWG opened at $2.27 on Monday. The company has a fifty day moving average price of $2.27 and a 200-day moving average price of $2.37. GrowGeneration Corp. has a 1 year low of $1.77 and a 1 year high of $3.78. The firm has a market cap of $137.81 million, a price-to-earnings ratio of -2.87 and a beta of 3.09.

GrowGeneration (NASDAQ:GRWG) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The firm had revenue of $53.54 million during the quarter, compared to analysts’ expectations of $53.00 million. GrowGeneration had a negative net margin of 22.68% and a negative return on equity of 18.00%. During the same quarter last year, the business posted ($0.09) EPS. On average, research analysts anticipate that GrowGeneration Corp. will post -0.36 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on GRWG. Roth Mkm lowered their price objective on shares of 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 lowered their target price on shares of GrowGeneration from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Alliance Global Partners dropped their price target 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. Finally, Stifel Nicolaus decreased their price objective on GrowGeneration from $2.55 to $2.50 and set a “hold” rating for the company in a report on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, GrowGeneration has a consensus rating of “Hold” and an average target price of $2.75.

Institutional Trading of GrowGeneration

Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in GrowGeneration by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,411,087 shares of the company’s stock valued at $3,034,000 after acquiring an additional 43,701 shares during the last quarter. American Century Companies Inc. raised its stake in GrowGeneration by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 84,823 shares of the company’s stock valued at $182,000 after acquiring an additional 12,197 shares during the period. Bank of New York Mellon Corp lifted 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 valued at $419,000 after purchasing an additional 11,742 shares during the last quarter. Baader Bank Aktiengesellschaft boosted 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 purchasing an additional 55,000 shares during the period. Finally, Tidal Investments LLC purchased a new position in shares of GrowGeneration in the first quarter worth about $5,934,000. Hedge funds and other institutional investors own 36.02% of the company’s stock.

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.