Fintel reports that on August 9, 2023, Lake Street maintained coverage of GrowGeneration (NASDAQ:GRWG) with a Buy recommendation.
Analyst Price Forecast Suggests 47.69% Upside
As of August 2, 2023, the average one-year price target for GrowGeneration is 5.36. The forecasts range from a low of 4.04 to a high of $8.40. The average price target represents an increase of 47.69% from its latest reported closing price of 3.63.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for GrowGeneration is 279MM, an increase of 13.49%. The projected annual non-GAAP EPS is -0.34.
What is the Fund Sentiment?
There are 290 funds or institutions reporting positions in GrowGeneration. This is a decrease of 10 owner(s) or 3.33% in the last quarter. Average portfolio weight of all funds dedicated to GRWG is 0.10%, a decrease of 52.66%. Total shares owned by institutions decreased in the last three months by 7.61% to 33,283K shares. 
The put/call ratio of GRWG is 0.15, indicating a bullish outlook.
What are Other Shareholders Doing?
Etf Managers Group holds 4,091K shares representing 6.70% ownership of the company. In it's prior filing, the firm reported owning 3,579K shares, representing an increase of 12.51%. The firm decreased its portfolio allocation in GRWG by 31.31% over the last quarter.
MJUS - ETFMG U.S. Alternative Harvest ETF holds 2,481K shares representing 4.07% ownership of the company. In it's prior filing, the firm reported owning 413K shares, representing an increase of 83.37%. The firm increased its portfolio allocation in GRWG by 191.85% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,753K shares representing 2.87% ownership of the company. In it's prior filing, the firm reported owning 1,733K shares, representing an increase of 1.18%. The firm decreased its portfolio allocation in GRWG by 18.48% over the last quarter.
MJ - ETFMG Alternative Harvest ETF holds 1,609K shares representing 2.64% ownership of the company. In it's prior filing, the firm reported owning 3,166K shares, representing a decrease of 96.75%. The firm decreased its portfolio allocation in GRWG by 44.55% over the last quarter.
D. E. Shaw holds 1,576K shares representing 2.58% ownership of the company. In it's prior filing, the firm reported owning 2,038K shares, representing a decrease of 29.33%. The firm decreased its portfolio allocation in GRWG by 34.65% over the last quarter.
Additional reading:
- EMPLOYMENT AGREEMENT
- Form of First Amendment to Employment Agreement, dated June 15, 2023, between GrowGeneration Corp. and Darren Lampert
- Form of First Amendment to Employment Agreement, dated June 15, 2023, between GrowGeneration Corp. and Michael Salaman
- GrowGeneration Acquires Two Stores in Alaska to Expand Its Geographic Footprint Into 18th State
- GrowGeneration Reports First Quarter 2023 Financial Results Net Revenue of $57 million Represents Sequential Improvement from Prior Quarter Gross Margin Improved Substantially to 28.7% Net Loss of $6.1 million and Non-GAAP Adjusted EBITDA(1) Loss of
This story originally appeared on Fintel.
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