Short Interest in GrowGeneration Corp. (NASDAQ:GRWG) Drops By 14.0%

GrowGeneration Corp. (NASDAQ:GRWG - Get Free Report) was the target of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 3,000,000 shares, a decrease of 14.0% from the February 13th total of 3,490,000 shares. Currently, 5.5% of the shares of the stock are sold short. Based on an average daily volume of 682,600 shares, the short-interest ratio is presently 4.4 days.

GrowGeneration Price Performance

NASDAQ GRWG traded up $0.04 during trading hours on Friday, reaching $1.27. The company's stock had a trading volume of 905,828 shares, compared to its average volume of 768,104. The firm has a fifty day simple moving average of $1.32 and a 200-day simple moving average of $1.71. GrowGeneration has a 52 week low of $0.91 and a 52 week high of $3.38. The stock has a market cap of $75.51 million, a P/E ratio of -1.46 and a beta of 3.39.

Insider Activity at GrowGeneration

In other news, President Michael Salaman bought 85,465 shares of the stock in a transaction on Wednesday, March 19th. The stock was acquired at an average price of $1.21 per share, with a total value of $103,412.65. Following the acquisition, the president now directly owns 1,639,313 shares in the company, valued at approximately $1,983,568.73. This trade represents a 5.50 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Darren Lampert bought 82,639 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was purchased at an average price of $1.19 per share, with a total value of $98,340.41. Following the completion of the transaction, the chief executive officer now directly owns 1,728,522 shares of the company's stock, valued at approximately $2,056,941.18. The trade was a 5.02 % increase in their position. The disclosure for this purchase can be found here. 7.07% of the stock is owned by insiders.

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Hedge Funds Weigh In On GrowGeneration

Several large investors have recently modified their holdings of GRWG. Monaco Asset Management SAM bought a new stake in shares of GrowGeneration in the fourth quarter worth $783,000. Tidal Investments LLC lifted its holdings in GrowGeneration by 24.7% during the 3rd quarter. Tidal Investments LLC now owns 1,870,563 shares of the company's stock worth $3,984,000 after buying an additional 370,635 shares during the period. Renaissance Technologies LLC bought a new stake in shares of GrowGeneration in the 4th quarter valued at about $431,000. Deutsche Bank AG increased its stake in shares of GrowGeneration by 449.9% in the fourth quarter. Deutsche Bank AG now owns 127,091 shares of the company's stock valued at $215,000 after buying an additional 103,981 shares during the period. Finally, Jane Street Group LLC raised its position in shares of GrowGeneration by 120.0% during 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 last quarter. Institutional investors own 36.02% of the company's stock.

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.