GrowGeneration (NASDAQ:GRWG) Price Target Lowered to $2.25 at Roth Mkm

GrowGeneration (NASDAQ:GRWG) had its target price trimmed by Roth Mkm from $2.75 to $2.25 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other brokerages have also commented on GRWG. Stifel Nicolaus lowered their price objective on GrowGeneration from $2.55 to $2.50 and set a hold rating for the company in a research report on Monday, July 29th. Lake Street Capital lowered their price target on shares of GrowGeneration from $5.00 to $4.00 and set a buy rating for the company in a research report on Friday, July 26th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, GrowGeneration presently has a consensus rating of Hold and an average price target of $2.75.

GrowGeneration Stock Performance

NASDAQ GRWG opened at $1.80 on Friday. GrowGeneration has a fifty-two week low of $1.77 and a fifty-two week high of $3.78. The stock has a market cap of $108.97 million, a P/E ratio of -2.27 and a beta of 3.09. The stock has a 50 day simple moving average of $2.31 and a two-hundred day simple moving average of $2.38.

GrowGeneration (NASDAQ:GRWG) last announced its earnings results on Thursday, August 8th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). GrowGeneration had a negative net margin of 22.68% and a negative return on equity of 18.00%. The company had revenue of $53.54 million for the quarter, compared to the consensus estimate of $53.00 million. During the same period in the previous year, the firm posted ($0.09) EPS. Sell-side analysts predict that GrowGeneration will post -0.36 earnings per share for the current year.

Institutional Investors Weigh In On GrowGeneration

A number of institutional investors have recently modified their holdings of the stock. Tidal Investments LLC purchased a new stake in GrowGeneration during the 1st quarter valued at about $5,934,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of GrowGeneration by 9.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 500,125 shares of the company’s stock valued at $1,461,000 after buying an additional 42,123 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of GrowGeneration during the fourth quarter valued at approximately $31,000. Symmetry Peak Management LLC bought a new stake in shares of GrowGeneration during the fourth quarter valued at approximately $201,000. Finally, Koshinski Asset Management Inc. bought a new position in GrowGeneration in the 4th quarter valued at approximately $29,000. 36.02% of the stock is owned by hedge funds and other institutional investors.

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.