GrowGeneration (NASDAQ:GRWG) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of GrowGeneration (NASDAQ:GRWG) to a hold rating in a research report report published on Thursday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of GrowGeneration in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, GrowGeneration currently has an average rating of “Hold” and an average target price of $2.50.

GrowGeneration Stock Down 3.6%

NASDAQ:GRWG opened at $1.07 on Thursday. The firm has a market cap of $64.30 million, a PE ratio of -2.68 and a beta of 2.42. GrowGeneration has a 12 month low of $0.82 and a 12 month high of $2.40. The company’s 50-day moving average price is $1.19 and its two-hundred day moving average price is $1.48.

GrowGeneration (NASDAQ:GRWG) last posted its quarterly earnings data on Thursday, March 19th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.05). The firm had revenue of $37.82 million for the quarter, compared to analyst estimates of $40.02 million. GrowGeneration had a negative return on equity of 22.90% and a negative net margin of 14.87%. On average, research analysts expect that GrowGeneration will post -0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Engineers Gate Manager LP acquired a new position in GrowGeneration during the 2nd quarter worth $26,000. AQR Capital Management LLC bought a new stake in shares of GrowGeneration during the first quarter worth $27,000. Scientech Research LLC bought a new stake in shares of GrowGeneration during the third quarter worth $37,000. Janney Montgomery Scott LLC acquired a new position in shares of GrowGeneration during the fourth quarter valued at $42,000. Finally, Virtu Financial LLC bought a new position in GrowGeneration in the fourth quarter valued at about $43,000. Institutional investors own 36.02% of the company’s stock.

About GrowGeneration

GrowGeneration Corp. is the largest chain of specialty hydroponic and organic garden centers in the United States, serving commercial and home growers of all experience levels. The company offers a broad assortment of cultivation supplies, including high-efficiency LED lighting, climate control systems, irrigation and fertigation equipment, growing media and nutrients. Through its retail outlets and e-commerce platform, GrowGeneration caters to indoor and outdoor horticultural operations, with a particular focus on the rapidly expanding legal cannabis market.

In addition to its product offerings, GrowGeneration provides design, consulting and project management services for turnkey cultivation facilities.