During the last session, GrowGeneration Corp (NASDAQ:GRWG)’s traded shares were 1.18 million, with the beta value of the company hitting 3.03. At the end of the trading day, the stock’s price was $2.83, reflecting an intraday gain of 1.07% or $0.03. The 52-week high for the GRWG share is $5.00, that puts it down -76.68 from that peak though still a striking 37.46% gain since the share price plummeted to a 52-week low of $1.77. The company’s market capitalization is $174.04M, and the average intraday trading volume over the past 10 days was 2.68 million shares, and the average trade volume was 1.14 million shares over the past three months.
GrowGeneration Corp (NASDAQ:GRWG) trade information
GrowGeneration Corp (GRWG) registered a 1.07% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 1.07% in intraday trading to $2.83, hitting a weekly high. The stock’s 5-day price performance is -1.05%, and it has moved by 33.49% in 30 days. Based on these gigs, the overall price performance for the year is -13.98%. The short interest in GrowGeneration Corp (NASDAQ:GRWG) is 3.83 million shares and it means that shorts have 5.03 day(s) to cover.
GrowGeneration Corp (GRWG) estimates and forecasts
Statistics show that GrowGeneration Corp has outperformed its competitors in share price, compared to the industry in which it operates. GrowGeneration Corp (GRWG) shares have gone up 2.17% during the last six months, with a year-to-date growth rate more than the industry average at 36.00% against 1.50. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -10.00% this quarter and then jump 22.20% in the quarter after that. In the rating firms’ projections, revenue will decrease -7.50% compared to the previous financial year.
Revenue for the current quarter is expected to be $46.85 million as predicted by 6 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to $55.55 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $56.83 million and $63.92 million respectively. In this case, analysts expect current quarter sales to shrink by -17.60% and then drop by -13.10% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -28.61%. While earnings are projected to return 55.64% in 2024, the next five years will return 20.00% per annum.
GRWG Dividends
GrowGeneration Corp is due to release its next quarterly earnings on March 13. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
GrowGeneration Corp (NASDAQ:GRWG)’s Major holders
GrowGeneration Corp insiders own 5.95% of total outstanding shares while institutional holders control 47.81%, with the float percentage being 50.84%. Blackrock Inc. is the largest shareholder of the company, while 183 institutions own stock in it. As of Jun 29, 2023, the company held over 4.33 million shares (or 11.82% of all shares), a total value of $14.73 million in shares.
The next largest institutional holding, with 4.09 million shares, is of ETF Managers Group, LLC’s that is approximately 11.16% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $13.99 million.
Also, the Mutual Funds coming in first place with the largest holdings of GrowGeneration Corp (GRWG) shares are ETF Managers Tr-EFTMG U.S. Alternative Harvest ETF and Vanguard Total Stock Market Index Fund. Data provided on Jun 29, 2023 indicates that ETF Managers Tr-EFTMG U.S. Alternative Harvest ETF owns about 2.57 million shares. This amounts to just over 7.02 percent of the company’s overall shares, with a $8.75 million market value. The same data shows that the other fund manager holds slightly less at 1.75 million, or about 4.78% of the stock, which is worth about $5.96 million.
