GrowGeneration (NASDAQ:GRWG) Trading Up 2.2% - Here's What Happened

GrowGeneration Corp. (NASDAQ:GRWG - Get Free Report) shares were up 2.2% during mid-day trading on Thursday . The company traded as high as $1.43 and last traded at $1.41. Approximately 451,384 shares changed hands during trading, a decline of 27% from the average daily volume of 617,855 shares. The stock had previously closed at $1.38.

GrowGeneration Stock Up 1.4 %

The stock has a market capitalization of $84.71 million, a PE ratio of -1.64 and a beta of 3.09. The stock's 50 day moving average price is $1.58 and its 200-day moving average price is $1.86.

Insider Buying and Selling

In other GrowGeneration news, President Michael Salaman acquired 58,476 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was bought at an average cost of $1.74 per share, with a total value of $101,748.24. Following the completion of the purchase, the president now directly owns 1,503,848 shares in the company, valued at $2,616,695.52. The trade was a 4.05 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Darren Lampert acquired 57,467 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was acquired at an average cost of $1.75 per share, with a total value of $100,567.25. Following the completion of the purchase, the chief executive officer now owns 1,595,883 shares of the company's stock, valued at $2,792,795.25. This trade represents a 3.74 % increase in their ownership of the stock. 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

A number of large investors have recently added to or reduced their stakes in the company. Deutsche Bank AG raised its holdings in GrowGeneration by 449.9% in the fourth quarter. Deutsche Bank AG now owns 127,091 shares of the company's stock worth $215,000 after purchasing an additional 103,981 shares in the last quarter. Bank of America Corp DE raised its holdings in GrowGeneration by 36.7% in the fourth quarter. Bank of America Corp DE now owns 60,104 shares of the company's stock worth $102,000 after purchasing an additional 16,132 shares in the last quarter. Oxford Asset Management LLP bought a new position in GrowGeneration in the fourth quarter worth about $33,000. Two Sigma Securities LLC raised its holdings in GrowGeneration by 158.6% in the fourth quarter. Two Sigma Securities LLC now owns 32,594 shares of the company's stock worth $55,000 after purchasing an additional 19,992 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in GrowGeneration by 13.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 80,998 shares of the company's stock worth $137,000 after purchasing an additional 9,613 shares in the last quarter. 36.02% of the stock is currently 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.