Mirae Asset Global Investments Co. Ltd. Has $3.48 Million Position in GrowGeneration Corp. (NASDAQ:GRWG)

Mirae Asset Global Investments Co. Ltd. lifted its stake in GrowGeneration Corp. (NASDAQ:GRWGGet Rating) by 1.9% in the first quarter, HoldingsChannel.com reports. The firm owned 377,820 shares of the company’s stock after purchasing an additional 7,121 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in GrowGeneration were worth $3,480,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. AdvisorShares Investments LLC increased its holdings in shares of GrowGeneration by 9.8% in the first quarter. AdvisorShares Investments LLC now owns 4,362,686 shares of the company’s stock valued at $40,180,000 after purchasing an additional 388,075 shares in the last quarter. BlackRock Inc. increased its holdings in shares of GrowGeneration by 1.0% in the first quarter. BlackRock Inc. now owns 3,507,820 shares of the company’s stock valued at $32,306,000 after purchasing an additional 34,301 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of GrowGeneration by 8.5% in the first quarter. Vanguard Group Inc. now owns 2,855,236 shares of the company’s stock valued at $26,297,000 after purchasing an additional 222,960 shares in the last quarter. Primecap Management Co. CA acquired a new stake in GrowGeneration during the 1st quarter worth $10,683,000. Finally, State Street Corp grew its holdings in GrowGeneration by 5.8% during the 1st quarter. State Street Corp now owns 1,104,574 shares of the company’s stock worth $10,173,000 after acquiring an additional 60,988 shares during the period. Institutional investors and hedge funds own 46.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. TheStreet lowered shares of GrowGeneration from a “c-” rating to a “d” rating in a report on Wednesday, June 8th. Alliance Global Partners lowered shares of GrowGeneration from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $7.00 to $4.50 in a report on Friday, August 5th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.43.

GrowGeneration Stock Down 3.7 %

Shares of NASDAQ GRWG opened at $3.64 on Friday. The company’s fifty day moving average is $4.80 and its 200-day moving average is $5.68. The stock has a market cap of $221.28 million, a price-to-earnings ratio of -1.56 and a beta of 2.91. GrowGeneration Corp. has a twelve month low of $3.42 and a twelve month high of $27.38.

GrowGeneration (NASDAQ:GRWGGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). The firm had revenue of $71.09 million for the quarter, compared to the consensus estimate of $83.77 million. GrowGeneration had a negative return on equity of 4.08% and a negative net margin of 39.40%. On average, research analysts anticipate that GrowGeneration Corp. will post -0.51 EPS for the current fiscal year.

GrowGeneration Profile

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GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. It engages in the marketing and distribution of nutrients, growing media, advanced indoor and greenhouse lighting, environmental control systems, vertical benching, and accessories for hydroponic gardening, as well as other indoor and outdoor growing products.

Further Reading

Want to see what other hedge funds are holding GRWG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GrowGeneration Corp. (NASDAQ:GRWGGet Rating).



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