In the last trading session, 1.21 million shares of the GrowGeneration Corp (NASDAQ:GRWG) were traded, and its beta was 3.03. Most recently the company’s share price was $2.86, and it changed around -$0.04 or -1.38% from the last close, which brings the market valuation of the company to $175.89M. GRWG currently trades at a discount to its 52-week high of $5.00, offering almost -74.83% off that amount. The share price’s 52-week low was $1.77, which indicates that the current value has risen by an impressive 38.11% since then. We note from GrowGeneration Corp’s average daily trading volume that its 10-day average is 2.46 million shares, with the 3-month average coming to 1.06 million.
GrowGeneration Corp (NASDAQ:GRWG) trade information
Instantly GRWG has showed a red trend with a performance of -1.38% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 13.94% year-to-date, but still up 12.60% over the last five days. On the other hand, GrowGeneration Corp (NASDAQ:GRWG) is 30.00% up in the 30-day period. We can see from the shorts that 3.83 million shares have been sold at a short interest cover period of 5.03 day(s).
The consensus price target as assigned by Wall Street analysts is $4.25, which translates to bulls needing to increase their stock price by 32.71% from its current value. Analyst projections state that GRWG is forecast to be at a low of $3.5 and a high of $5.
GrowGeneration Corp (GRWG) estimates and forecasts
GrowGeneration Corp share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -2.05 percent over the past six months and at a 36.00% annual growth rate that is well above the industry average of 15.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -10.00% in revenue this quarter, and will report an increase of 22.20% in the next quarter. The year-over-year growth rate is expected to be -7.50%, down from the previous year.
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of $46.85 million in revenue for the current quarter. 7 analysts expect GrowGeneration Corp to make $55.55 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $56.83 million and $63.92 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -17.60%. Forecasts for the next quarter put sales growth at -13.10%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -28.61%. GrowGeneration Corp earnings are expected to increase by 55.64% in 2024, but the outlook is positive 20.00% per year for the next five years.
GRWG Dividends
GrowGeneration Corp’s next quarterly earnings report is expected to be released on March 13.
GrowGeneration Corp (NASDAQ:GRWG)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 5.95% of GrowGeneration Corp shares, and 47.81% of them are in the hands of institutional investors. The stock currently has a share float of 50.84%. GrowGeneration Corp stock is held by 183 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 11.82% of the shares, which is about 4.33 million shares worth $14.73 million.
ETF Managers Group, LLC, with 11.16% or 4.09 million shares worth $13.99 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
ETF Managers Tr-EFTMG U.S. Alternative Harvest ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 2.57 million shares worth $8.75 million, making up 7.02% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 1.75 million shares worth around $5.96 million, which represents about 4.78% of the total shares outstanding.
