FY2024 EPS Estimates for GrowGeneration Cut by Analyst

GrowGeneration Corp. (NASDAQ:GRWG - Free Report) - Equities researchers at Alliance Global Partners dropped their FY2024 earnings per share (EPS) estimates for shares of GrowGeneration in a research report issued to clients and investors on Wednesday, November 13th. Alliance Global Partners analyst A. Grey now expects that the company will earn ($0.59) per share for the year, down from their prior forecast of ($0.47). Alliance Global Partners has a "Neutral" rating and a $2.25 price objective 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.

Several other equities analysts also recently weighed in on the company. Roth Mkm lowered their target price on GrowGeneration from $2.75 to $2.25 and set a "neutral" rating on the stock in a research report on Friday, August 9th. Stifel Nicolaus lowered their price objective on GrowGeneration from $2.55 to $2.50 and set a "hold" rating on the stock in a research report on Monday, July 29th. Finally, Lake Street Capital lowered their price objective on GrowGeneration from $5.00 to $4.00 and set a "buy" rating on the stock in a research report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $2.75.

GrowGeneration Price Performance

GRWG stock traded up $0.07 on Monday, reaching $1.75. 449,011 shares of the company traded hands, compared to its average volume of 818,984. The company has a market cap of $103.68 million, a P/E ratio of -1.93 and a beta of 3.14. The firm has a fifty day simple moving average of $2.03 and a 200-day simple moving average of $2.23. GrowGeneration has a one year low of $1.55 and a one year high of $3.38.

Insider Transactions at GrowGeneration

In other news, Director Eula L. Adams purchased 25,000 shares of the business's stock in a transaction dated Tuesday, August 27th. The stock was acquired at an average price of $2.02 per share, for a total transaction of $50,500.00. Following the acquisition, the director now directly owns 25,000 shares of the company's stock, valued at approximately $50,500. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 7.07% of the company's stock.

Hedge Funds Weigh In On GrowGeneration

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in GrowGeneration by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,992,591 shares of the company's stock valued at $8,559,000 after acquiring an additional 21,306 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of GrowGeneration during the first quarter valued at approximately $5,934,000. Dimensional Fund Advisors LP lifted its stake in shares of GrowGeneration by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,411,087 shares of the company's stock valued at $3,034,000 after buying an additional 43,701 shares during the period. AWM Investment Company Inc. increased its position in GrowGeneration by 17.8% during the first quarter. AWM Investment Company Inc. now owns 1,001,692 shares of the company's stock worth $2,865,000 after purchasing an additional 151,000 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in GrowGeneration by 6.4% during the second quarter. Bank of New York Mellon Corp now owns 194,974 shares of the company's stock worth $419,000 after purchasing an additional 11,742 shares during the last quarter. Hedge funds and other institutional investors own 36.02% of the company's stock.

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.