Short Interest in GrowGeneration Corp. (NASDAQ:GRWG) Declines By 6.0%

GrowGeneration Corp. (NASDAQ:GRWG) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 3,630,000 shares, a drop of 6.0% from the October 15th total of 3,860,000 shares. Based on an average daily trading volume, of 487,900 shares, the days-to-cover ratio is presently 7.4 days. Approximately 6.7% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

GRWG has been the topic of several research reports. Stifel Nicolaus cut their price target on GrowGeneration from $2.55 to $2.50 and set a “hold” rating on the stock in a research note on Monday, July 29th. Lake Street Capital reduced their target price on shares of GrowGeneration from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Alliance Global Partners cut their price objective on shares of GrowGeneration from $2.75 to $2.25 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, Roth Mkm dropped their target price on shares of GrowGeneration from $2.75 to $2.25 and set a “neutral” rating for the company in a research report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $2.75.

Insider Activity

In related news, Director Eula L. Adams acquired 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average price of $2.02 per share, for a total transaction of $50,500.00. Following the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $50,500. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.07% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GrowGeneration

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in shares of GrowGeneration in the 3rd quarter valued at about $42,000. Barclays PLC boosted its position in GrowGeneration by 274.2% during the 3rd 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 last quarter. American Century Companies Inc. grew its stake in shares of GrowGeneration by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 84,823 shares of the company’s stock worth $182,000 after acquiring an additional 12,197 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings 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 valued at $198,000 after purchasing an additional 22,269 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in shares of GrowGeneration by 5.3% in the third quarter. Empowered Funds LLC now owns 112,180 shares of the company’s stock worth $239,000 after purchasing an additional 5,628 shares in the last quarter. Institutional investors own 36.02% of the company’s stock.

GrowGeneration Stock Up 4.2 %

Shares of GrowGeneration stock opened at $1.75 on Tuesday. The stock’s fifty day simple moving average is $2.02 and its 200 day simple moving average is $2.23. GrowGeneration has a 12 month low of $1.55 and a 12 month high of $3.38.

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.