GrowGeneration Corp [NASDAQ: GRWG] price plunged by -15.92 percent to reach at -$0.53. The company report on March 25, 2024 at 8:00 AM that GrowGeneration Announces Share Repurchase Program.
GrowGeneration Corp. (NASDAQ: GRWG) (“GrowGen” or the “Company”), one of the largest retailers and distributors of specialty hydroponic and organic gardening products in the United States, today announced that its Board of Directors has authorized the Company’s first share repurchase program to repurchase up to $6 million of the Company’s outstanding common stock.
Darren Lampert, GrowGeneration’s Co-Founder and Chief Executive Officer, stated, “Today’s announcement of our share repurchase program further underscores our conviction in the strength of our underlying business and our view that GrowGen shares remain undervalued. This program acts as one pillar of our shareholder value creation strategy as we continue to evaluate all potential uses for our strong balance sheet, including reinvesting in our brands, strategic acquisitions, and stock repurchases to enhance long-term shareholder value.”.
The one-year GRWG stock forecast points to a potential upside of 24.12. The average equity rating for GRWG stock is currently 2.14, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on GrowGeneration Corp [GRWG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GRWG shares is $3.69 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GRWG stock is a recommendation set at 2.14. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Oppenheimer have made an estimate for GrowGeneration Corp shares, keeping their opinion on the stock as Perform, with their previous recommendation back on March 20, 2024. While these analysts kept the previous recommendation, Craig Hallum raised their target price from $4.25 to $4.75. The new note on the price target was released on May 10, 2023, representing the official price target for GrowGeneration Corp stock. Previously, the target price had yet another drop from $7 to $4.50, while Alliance Global Partners kept a Neutral rating on GRWG stock.
The Average True Range (ATR) for GrowGeneration Corp is set at 0.27, with the Price to Sales ratio for GRWG stock in the period of the last 12 months amounting to 0.76. The Price to Book ratio for the last quarter was 0.99, with the Price to Cash per share for the same quarter was set at 1.06.
GRWG Stock Performance Analysis:
GrowGeneration Corp [GRWG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.20. With this latest performance, GRWG shares gained by 32.08% in over the last four-week period, additionally plugging by 2.94% over the last 6 months – not to mention a drop of -16.42% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GRWG stock in for the last two-week period is set at 57.92, with the RSI for the last a single of trading hit 56.66, and the three-weeks RSI is set at 57.39 for GrowGeneration Corp [GRWG]. The present Moving Average for the last 50 days of trading for this stock 2.30, while it was recorded at 2.95 for the last single week of trading, and 2.72 for the last 200 days.
Insight into GrowGeneration Corp Fundamentals:
GrowGeneration Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.67 and a Current Ratio set at 4.77.
GRWG Stock EPS
With the latest financial reports released by the company, GrowGeneration Corp posted -0.1/share EPS, while the average EPS was predicted by analysts to be reported at -0.11/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 9.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GRWG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for GrowGeneration Corp go to 20.00%.
GrowGeneration Corp [GRWG] Institutonal Ownership Details
The top three institutional holders of GRWG stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in GRWG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in GRWG stock with ownership which is approximately 5.8386%.
