GrowGeneration Corp. (NASDAQ:GRWG) Short Interest Update

GrowGeneration Corp. (NASDAQ:GRWG) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 3,630,000 shares, a decline of 6.0% from the October 15th total of 3,860,000 shares. Currently, 6.7% of the company’s stock are sold short. Based on an average daily trading volume, of 487,900 shares, the days-to-cover ratio is currently 7.4 days.

Insider Activity

In other GrowGeneration news, Director Eula L. Adams acquired 25,000 shares of GrowGeneration stock in a transaction that occurred on Tuesday, August 27th. The stock was acquired at an average price of $2.02 per share, with a total value of $50,500.00. Following the purchase, the director now owns 25,000 shares in the company, valued at approximately $50,500. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.07% of the stock is owned by corporate insiders.

Institutional Trading of GrowGeneration

Several institutional investors have recently made changes to their positions in GRWG. SG Americas Securities LLC acquired a new position in GrowGeneration in the third quarter worth about $42,000. Barclays PLC raised its holdings in shares of GrowGeneration by 274.2% in the 3rd quarter. Barclays PLC now owns 75,452 shares of the company’s stock worth $161,000 after buying an additional 55,290 shares in the last quarter. American Century Companies Inc. boosted its stake in GrowGeneration by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 84,823 shares of the company’s stock valued at $182,000 after buying an additional 12,197 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in 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 acquiring an additional 22,269 shares during the period. Finally, Empowered Funds LLC lifted its holdings in shares of GrowGeneration by 5.3% during the third quarter. Empowered Funds LLC now owns 112,180 shares of the company’s stock valued at $239,000 after acquiring an additional 5,628 shares during the period. 36.02% of the stock is currently owned by institutional investors and hedge funds.

GrowGeneration Trading Up 4.2 %

GRWG opened at $1.75 on Tuesday. GrowGeneration has a fifty-two week low of $1.55 and a fifty-two week high of $3.38. The firm’s fifty day moving average price is $2.02 and its two-hundred day moving average price is $2.23.

Wall Street Analyst Weigh In

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

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.