GrowGeneration Corp. (NASDAQ:GRWG) Sees Large Decline in Short Interest

GrowGeneration Corp. (NASDAQ:GRWG) was the recipient of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 3,300,000 shares, a decline of 8.3% from the January 15th total of 3,600,000 shares. Based on an average daily trading volume, of 718,800 shares, the days-to-cover ratio is currently 4.6 days. Currently, 6.1% of the company’s stock are sold short.

Insider Activity at GrowGeneration

In related news, President Michael Salaman bought 58,476 shares of the stock in a transaction dated Tuesday, November 19th. The stock was bought at an average cost of $1.74 per share, with a total value of $101,748.24. Following the completion of the acquisition, the president now owns 1,503,848 shares of the company’s stock, valued at $2,616,695.52. This trade represents a 4.05 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Darren Lampert bought 57,467 shares of the stock in a transaction dated Tuesday, November 19th. The shares were bought at an average cost of $1.75 per share, with a total value of $100,567.25. Following the completion of the acquisition, the chief executive officer now directly owns 1,595,883 shares of the company’s stock, valued at approximately $2,792,795.25. The trade was a 3.74 % increase in their position. The disclosure for this purchase can be found here. 7.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GrowGeneration

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GRWG. Monaco Asset Management SAM bought a new position in GrowGeneration in the 4th quarter worth approximately $783,000. Tidal Investments LLC lifted its position in GrowGeneration by 24.7% in the third quarter. Tidal Investments LLC now owns 1,870,563 shares of the company’s stock worth $3,984,000 after purchasing an additional 370,635 shares during the period. Renaissance Technologies LLC acquired a new stake in GrowGeneration in the fourth quarter worth approximately $431,000. Deutsche Bank AG lifted its position in GrowGeneration by 449.9% in the fourth quarter. Deutsche Bank AG now owns 127,091 shares of the company’s stock worth $215,000 after purchasing an additional 103,981 shares during the period. Finally, Jane Street Group LLC lifted its position in GrowGeneration by 120.0% in the third quarter. Jane Street Group LLC now owns 166,798 shares of the company’s stock worth $355,000 after purchasing an additional 90,966 shares during the period. 36.02% of the stock is owned by institutional investors.

GrowGeneration Price Performance

GRWG stock traded up $0.02 on Monday, reaching $1.43. The company’s stock had a trading volume of 487,755 shares, compared to its average volume of 599,153. GrowGeneration has a 52 week low of $1.35 and a 52 week high of $3.38. The company has a market capitalization of $84.71 million, a P/E ratio of -1.64 and a beta of 3.09. The firm has a fifty day moving average of $1.57 and a two-hundred day moving average of $1.85.

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.