GrowGeneration (NASDAQ:GRWG) PT Lowered to $4.00 at Lake Street Capital

GrowGeneration (NASDAQ:GRWG) had its price target lowered by Lake Street Capital from $5.00 to $4.00 in a report issued on Friday, Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

Separately, Roth Mkm increased their price objective on GrowGeneration from $2.25 to $2.75 and gave the company a neutral rating in a report on Thursday, May 9th.

GrowGeneration Trading Down 4.5 %

Shares of GRWG opened at $2.31 on Friday. The company has a market capitalization of $140.24 million, a price-to-earnings ratio of -2.92 and a beta of 3.09. The stock has a 50 day moving average of $2.41 and a 200 day moving average of $2.41. GrowGeneration has a 12 month low of $1.77 and a 12 month high of $4.06.

GrowGeneration (NASDAQ:GRWG) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.04). The business had revenue of $47.89 million for the quarter, compared to analysts’ expectations of $46.52 million. GrowGeneration had a negative net margin of 22.68% and a negative return on equity of 18.00%. As a group, equities research analysts predict that GrowGeneration will post -0.35 earnings per share for the current year.

Hedge Funds Weigh In On GrowGeneration

A number of large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in shares of GrowGeneration by 6.4% in the second quarter. Bank of New York Mellon Corp now owns 194,974 shares of the company’s stock worth $419,000 after buying an additional 11,742 shares in the last quarter. Baader Bank Aktiengesellschaft raised its position in shares of GrowGeneration by 44.0% in the second quarter. Baader Bank Aktiengesellschaft now owns 180,000 shares of the company’s stock worth $387,000 after buying an additional 55,000 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of GrowGeneration in the first quarter worth $5,934,000. AWM Investment Company Inc. raised its position 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 buying an additional 151,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of GrowGeneration by 47.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 69,104 shares of the company’s stock worth $198,000 after buying an additional 22,269 shares in the last quarter. 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.