In the latest trading session, 2.43 million GrowGeneration Corp (NASDAQ:GRWG) shares changed hands as the company’s beta touched 2.96. With the company’s most recent per share price at $2.55 changing hands around $0.32 or 14.32% at last look, the market valuation stands at $156.78M. GRWG’s current price is a discount, trading about -96.08% off its 52-week high of $5.00. The share price had its 52-week low at $1.77, which suggests the last value was 30.59% up since then. When we look at GrowGeneration Corp’s average trading volume, we note the 10-day average is 1.46 million shares, with the 3-month average coming to 883.53K.
GrowGeneration Corp (NASDAQ:GRWG) trade information
Instantly GRWG is in green as seen in intraday trades today. With action 27.46%, the performance over the past five days has been green. The jump to weekly highs of 2.64 added 14.32% to the stock’s daily price. The company’s shares are showing year-to-date upside of 1.57%, with the 5-day performance at 27.46% in the green. However, in the 30-day time frame, GrowGeneration Corp (NASDAQ:GRWG) is 26.20% up. Looking at the short shares, we see there were 3.4 million shares sold at short interest cover period of 4.89 days.
GrowGeneration Corp (GRWG) estimates and forecasts
Data shows that the GrowGeneration Corp share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -15.31% over the past 6 months, a 36.00% in annual growth rate that is considerably higher than the industry average of 20.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for GrowGeneration Corp will fall -10.00%, while the growth in revenue is estimated to hit 22.20% for the next quarter. Year-over-year growth is forecast to reach -8.00% down from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $46.63 million. 6 analysts are of the opinion that GrowGeneration Corp’s revenue for the quarter ending Jun 2024 will be $55.14 million. The company’s revenue for the corresponding quarters a year ago was $56.83 million and $63.92 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -17.90%. The estimates for the next quarter sales put growth at -13.70%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -28.61%. The 2024 estimates are for GrowGeneration Corp earnings to increase by 55.45%, but the outlook for the next 5-year period is at 20.00% per year.
GRWG Dividends
GrowGeneration Corp is expected to release its next quarterly earnings report between May 07 and May 13.
GrowGeneration Corp (NASDAQ:GRWG)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 5.95% of GrowGeneration Corp shares while 47.83% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 50.86%. There are 47.83% institutions holding the GrowGeneration Corp stock share, with Blackrock Inc. the top institutional holder. As of Dec 30, 2023, the company held 12.05% of the shares, roughly 4.42 million GRWG shares worth $11.35 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 8.10% or 2.97 million shares worth $7.63 million as of Dec 30, 2023.
Among Mutual Funds, the top two as of Dec 30, 2023 were Vanguard Total Stock Market Index Fund and ETF Managers Tr-EFTMG Alternative Harvest ETF. With 1.75 million shares estimated at $4.5 million under it, the former controlled 4.78% of total outstanding shares. On the other hand, ETF Managers Tr-EFTMG Alternative Harvest ETF held about 4.33% of the shares, roughly 1.59 million shares worth around $4.08 million.
