Analysts Issue Forecasts for GrowGeneration FY2024 Earnings

GrowGeneration Corp. (NASDAQ:GRWG) – Equities research analysts at Alliance Global Partners reduced their FY2024 earnings per share estimates for GrowGeneration in a research report issued on Wednesday, November 13th. Alliance Global Partners analyst A. Grey now expects that the company will post earnings per share of ($0.59) for the year, down from their prior estimate of ($0.47). Alliance Global Partners currently has a “Neutral” rating and a $2.25 price target on the stock. The consensus estimate for GrowGeneration’s current full-year earnings is ($0.53) per share. Alliance Global Partners also issued estimates for GrowGeneration’s Q4 2024 earnings at ($0.16) EPS, Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.06) EPS, Q4 2025 earnings at ($0.06) EPS and FY2025 earnings at ($0.30) EPS.

A number of other brokerages also recently commented on GRWG. Lake Street Capital decreased their price target on GrowGeneration from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Stifel Nicolaus decreased their target price on GrowGeneration from $2.55 to $2.50 and set a “hold” rating for the company in a research report on Monday, July 29th. Finally, Roth Mkm decreased their target price on GrowGeneration from $2.75 to $2.25 and set a “neutral” rating for the company in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $2.75.

GrowGeneration Stock Performance

Shares of GRWG opened at $1.75 on Monday. The company has a market capitalization of $103.67 million, a price-to-earnings ratio of -2.01 and a beta of 3.14. The stock has a 50 day moving average of $2.02 and a 200 day moving average of $2.22. GrowGeneration has a 12 month low of $1.55 and a 12 month high of $3.38.

Insiders Place Their Bets

In related news, Director Eula L. Adams purchased 25,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was purchased at an average cost of $2.02 per share, with a total value of $50,500.00. Following the completion of the acquisition, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $50,500. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 7.07% of the company’s stock.

Hedge Funds Weigh In On GrowGeneration

A number of large investors have recently made changes to their positions in GRWG. Tidal Investments LLC bought a new position in shares of GrowGeneration in the first quarter worth $5,934,000. AWM Investment Company Inc. boosted its holdings in shares of GrowGeneration by 17.8% in the first quarter. AWM Investment Company Inc. now owns 1,001,692 shares of the company’s stock worth $2,865,000 after acquiring an additional 151,000 shares during the period. Jane Street Group LLC boosted its holdings in shares of 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 acquiring an additional 90,966 shares during the period. Barclays PLC boosted its holdings in shares of GrowGeneration by 274.2% in the third quarter. Barclays PLC now owns 75,452 shares of the company’s stock worth $161,000 after acquiring an additional 55,290 shares during the period. Finally, Baader Bank Aktiengesellschaft boosted its stake in GrowGeneration by 44.0% during the second quarter. Baader Bank Aktiengesellschaft now owns 180,000 shares of the company’s stock valued at $387,000 after buying an additional 55,000 shares during the period. 36.02% of the stock is owned by institutional investors.

About GrowGeneration

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.