GrowGeneration Corp (NASDAQ: GRWG) stock jumped 11.84% on Friday to $2.74 against a previous-day closing price of $2.45. With 3.4 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.92 million shares. During the session, the Specialty Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $2.7500 whereas the lowest price it dropped to was $2.4680. The 52-week range on GRWG shows that it touched its highest point at $8.63 and its lowest point at $1.77 during that stretch. It currently has a 1-year price target of $4.37. Beta for the stock currently stands at 3.04.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GRWG was up-trending over the past week, with a rise of 45.74%, but this was up by 22.87% over a month. The stock lost -58.48% in the past year, while it has lost -30.10% so far this year. A look at the trailing 12-month EPS for GRWG yields -0.56 with Next year EPS estimates of -0.36. For the next quarter, that number is -0.13. This implies an EPS growth rate of 83.48% for this year and 19.94% for next year. EPS is expected to grow by 20.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -71.78%.
Float and Shares Shorts:
At present, 61.01 million GRWG shares are outstanding with a float of 57.01 million shares on hand for trading. On Oct 30, 2023, short shares totaled 3.49 million, which was 5.71% higher than short shares on Sep 28, 2023. In addition to Mr. Darren Lampert as the firm’s Co-Founder, CEO & Director, Mr. Michael Salaman serves as its Co-Founder, President & Director.
Through their ownership of 43.38% of GRWG’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 26.01% of GRWG, in contrast to 19.59% held by mutual funds. Shares owned by individuals account for 17.27%. As the largest shareholder in GRWG with 6.68% of the stake, ETF Managers Group LLC holds 4,090,601 shares worth 4,090,601. A second-largest stockholder of GRWG, BlackRock Fund Advisors, holds 3,779,052 shares, controlling over 6.17% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in GRWG, holding 2,862,009 shares or 4.67% stake. With a 3.91% stake in GRWG, the ETFMG US Alternative Harvest ETF is the largest stakeholder. A total of 2,395,585 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.86% of GRWG stock, is the second-largest Mutual Fund holder. It holds 1,753,390 shares valued at 3.58 million. iShares Russell 2000 ETF holds 2.19% of the stake in GRWG, owning 1,338,388 shares worth 2.73 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GRWG since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With GRWG analysts setting a high price target of $8.00 and a low target of $2.25, the average target price over the next 12 months is $4.37. Based on these targets, GRWG could surge 191.97% to reach the target high and fall by -17.88% to reach the target low. Reaching the average price target will result in a growth of 59.49% from current levels.
Summary of Insider Activity:
Insiders traded GRWG stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 12 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 508,858 while 0 shares were sold.