GrowGeneration Corp (NASDAQ:GRWG) shares, rose in value, with the stock price down by -0.97% to the previous day’s close as strong demand from buyers drove the stock to $2.04.
Actively observing the price movement in the last trading, the stock closed the session at $2.06. The value of beta (5-year monthly) was 2.97. Referring to stock’s 52-week performance, its high was $5.00, and the low was $1.77. On the whole, GRWG has fluctuated by -10.53% over the past month.
With the market capitalization of GrowGeneration Corp currently standing at about $125.07 million, investors are eagerly awaiting this quarter’s results, scheduled for May 07, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.13, which is expected to increase to -$0.09 for fiscal year -$0.44 and then to about -$0.36 by fiscal year 2024. Data indicates that the EPS growth is expected to be 83.60% in 2024, while the next year’s EPS growth is forecast to be 18.20%.
Analysts have estimated the company’s revenue for the quarter at $45.55 million, with a low estimate of $43.69 million and a high estimate of $47.92 million. According to the average forecast, sales growth in current quarter could jump down -16.40%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $222.04 million, representing a decrease of -20.20% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that GRWG’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of GRWG currently trading nearly -4.76% and -11.97% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 40.64, while the 7-day volatility ratio is showing 4.76% which for the 30-day chart, stands at 5.43%. Furthermore, GrowGeneration Corp (GRWG)’s beta value is 2.97, and its average true range (ATR) is 0.12.
A comparison of GrowGeneration Corp (GRWG) with its peers suggests the former has fared considerably weaker in the market. GRWG showed an intraday change of -0.97% in last session, and over the past year, it shrunk by -47.01%%.
Data on historical trading for GrowGeneration Corp (NASDAQ:GRWG) indicates that the trading volumes over the past 10 days have averaged 0.64 million and over the past 3 months, they’ve averaged 790.79K. According to company’s latest data on outstanding shares, there are 61.01 million shares outstanding.
Nearly 7.10% of GrowGeneration Corp’s shares belong to company insiders and institutional investors own 36.35% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 3.4 million shares as on Feb 29, 2024, resulting in a short ratio of 4.89. According to the data, the short interest in GrowGeneration Corp (GRWG) stood at 5.55% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 2.6 million. The stock has fallen by -18.73% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the GRWG stock heading into the next quarter.
