urban-gro (NASDAQ:UGRO) Stock Price Down 2.7% – Here’s What Happened

urban-gro, Inc. (NASDAQ:UGRO) shares traded down 2.7% on Tuesday . The company traded as low as $1.80 and last traded at $1.81. 19,661 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 63,716 shares. The stock had previously closed at $1.86.

urban-gro Stock Performance

The firm has a market capitalization of $22.30 million, a PE ratio of -1.32 and a beta of 1.93. The company’s 50-day moving average price is $1.47 and its 200-day moving average price is $1.49.

Hedge Funds Weigh In On urban-gro

Hedge funds have recently added to or reduced their stakes in the stock. Financial Advocates Investment Management boosted its stake in urban-gro by 35.0% in the second quarter. Financial Advocates Investment Management now owns 27,000 shares of the company’s stock valued at $36,000 after acquiring an additional 7,000 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of urban-gro by 26.9% in the 2nd quarter. Renaissance Technologies LLC now owns 50,000 shares of the company’s stock valued at $66,000 after purchasing an additional 10,600 shares during the period. Finally, Private Advisor Group LLC grew its stake in urban-gro by 3.3% during the 3rd quarter. Private Advisor Group LLC now owns 215,746 shares of the company’s stock worth $298,000 after buying an additional 6,841 shares during the last quarter. 20.56% of the stock is currently owned by hedge funds and other institutional investors.

About urban-gro

urban-gro, Inc engages in the designing, engineering, building, and integrating complex environmental equipment systems for indoor controlled environment agriculture (CEA) cultivation and retail facilities in the United States, Canada, and Europe. The company provides architectural design, engineering, and construction services comprising pre-construction, cultivation space programming (CSP), architectural and interior design, engineering, integrated cultivation design, owner's representative/construction management, and general contracting services; and maintenance, training, and support services.