|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||4.4000 - 4.7600|
|52 Week Range||2.0490 - 5.2000|
|Beta (3Y Monthly)||2.42|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 8, 2019 - Aug 8, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||7.20|
GrowGeneration (GRWG) is a relatively unknown competitor in the cannabis sector, but as it continues to boost revenue and earnings on a consistent basis, it has started to attract the attention of investors. That should also be helped by its application to be listed on the Nasdaq.The company has been able to grow both organically and via acquisitions, and with a solid pipeline in the last half of the year, has stated it believes it will be able to grow at an annual rate of 100 percent going forward.What the company doesGrowGeneration Corp. is a major supplier of thousands of items to the cananbis sector, including to individuals, small growers, and giant multi-state operators.It currently has 24 stores it sells through in nine states. It also sells through a growing online store, HeavyGardens.com. Ancillary businesses include greenhouse design and associated services, harvesting services, and consulting at the commercial level.At this time the company is the largest of chain of its kind in the U.S., and focuses primarily on the organic and hydroponic segment of the cannabis industry.Its stated goal is to have a presence in all the Canadian provinces and major U.S. markets.Latest earningsRevenue in the most recent reporting period was $19.5 million, up 172 percent from the $7.2 million posted last year in the same quarter.The bulk of that came from 14 new stores that were added to the companies portfolio since April 1, 2018, along with an increase in sales from its online store.On a same-store basis, sales jumped 23 percent year-over-year, with gross profit margins increasing 5.7 basis points to 29.9 percent. Management said the increase in margins was from “purchasing in larger volumes and buying more efficiently.”Its e-commerce store HeavyGardens generated $1 million in the quarter, up 47 percent sequentially. The commercial unit added another $3.8 million in revenue, and increase of $2.5 million over the prior quarter.While continuing to spend on growth, the company still managed to cut operating expenses by 13 percent and corporate overhead by 42 percent as a percentage of revenue.At the end of the quarter GrowGeneration had $18 million in cash and cash equivalents, and working capital of $29.6 million, up from $21.6 million at the end of calendar year 2018.The company boosted its revenue guidance for 2019 to reach $65.0 million to $70.0 million. Adjusted EBITDA for the year was guided to finish in a range of $0.14 to $0.18 per share.ConclusionWith revenue expected to continue to increase and corporate overhead to remain “relatively flat,” management concluded net income will increase from quarter-over-quarter.It also said it has new acquisition targets that are scheduled to close in the throughout the last half of the year. It’s also working with a national real estate company to find high-quality strategic locations within major U.S. cities it can expand to.With a solid acquisition pipeline, effective cash management, strong balance sheet, and healthy organic growth, GrowGeneration Corp. is positioned to scale on a consistent pace in the quarters and years ahead, and appears it can do it while generating a profit.For those reasons, I think the company could easily double if it continues to execute. This is especially probable when considering all the segments of the company are experiencing significant growth.There have been very few cannabis companies that have been able to generate strong growth while being profitable. For that reason and those mentioned above, it’s definitely worth taking a closer look at GrowGeneration Corp. before it starts to run again.TipRanks Top Analyst StocksThe stocks that represent the most compelling investment opportunities are the ones most poised to outperform the rest. But how are investors supposed to know which stocks have the strongest prospects for long-term growth? That’s where the TipRanks Top Analyst Stocks tool comes in. It finds all the stocks that have garnered buy ratings from the Street’s most trusted analysts. Importantly, you can organize the search results by upside potential.
DENVER, CO , July 31, 2019 /PRNewswire/ - GrowGeneration Corp. (OTCQX: GRWG ), GrowGeneration ("GrowGen" or the "Company") one of the largest specialty retail hydroponic and organic ...
GrowGeneration Corp. shares rallied Wednesday to mark a rare splash of green in a falling cannabis sector that is still under pressure from the revelations of illegal activity at CannTrust Holdings Inc.
GrowGeneration Corp. , an owner and operator of specialty retail hydroponic and organic gardening stores serving the cannabis sector, said Wednesday it has appointed Bob Nardelli, a former chief executive of Home Depot as a senior strategic adviser. Nardelli will work with management to explore potential partnerships, advising the company's CEO Darren Lampert and board on matters relating to the supply chain, merchandise, branding, distribution, new product launches, pricing and channel selection. Nardelli headed the home-improvement store chain from 2000 to 2007. "I believe GrowGeneration has a solid execution track record, is strongly differentiated from its peers, has achieved scale throughout the supply chain of the hydroponic industry, and is poised to go to the next level," Nardelli said in a statement. GrowGeneration shares were not active premarket, but have gained 39% in 2019, while the S&P 500 has gained 19%.
DENVER , July 10, 2019 /CNW/ - GrowGeneration Corp. (OTCQX:GRWG), ("GrowGen" or the "Company") one of the largest chains of specialty retail hydroponic and organic gardening stores in the world, announced today that it has appointed Bob Nardelli as a strategic advisor. Mr. Nardelli and GrowGeneration will work collaboratively and strategically to explore potential partnerships that will bring value to each division of GrowGeneration. Nardelli will serve as a senior advisor to the Company's Chief Executive Officer and Board of Directors, providing advice on matters relating to supply chain, merchandise, branding, distribution, new product introductions, pricing and channel selection.
GrowGeneration (OTC: GRWG ), a specialty retail hydroponic and organic gardening stores, completed a private placement totaling .8 million . The company issued 4,123,254 shares at a price of $3.10 and ...
DENVER, June 26, 2019 /PRNewswire/ - GrowGeneration Corp. (OTCQX: GRWG), ("GrowGen" or the "Company") one of the largest specialty retail hydroponic and organic gardening stores, announced today that it has completed an upsized, private placement totaling $12.8 million. The Company issued 4,123,254 shares at a price of $3.10 and 2,061,632 warrants exercisable at $3.50 per share.
GrowGeneration (OTCQX: GRWG) has purchased the assets of GreenLife Garden Supply, including two locations in Maine and one in New Hampshire. The acquisition brings the company's total retail and warehouse locations to five that services the growing number of commercial cultivators in the New England market. Target Group (OTCQB: CBDY) subsidiary Canary Rx has submitted a site […]The post Cannabis Stock News Daily Roundup May 15 appeared first on Market Exclusive.
GrowGeneration Corp (OTC: GRWG ), a chain of specialty retail hydroponic and organic stores, said it has acquired GreenLife Garden Supply, allowing the company to expand its number of locations. The terms ...
DENVER, CO, May 14, 2019 /PRNewswire/ - GrowGeneration Corp. (GRWG), ("GrowGen" or the "Company"), the largest chain of specialty retail hydroponic and organic garden centers, with 21 locations serving both commercial and home growers, today announced that it has purchased the assets of GreenLife Garden Supply, with 2 locations in Maine and 1 location in New Hampshire. Following the acquisition, GrowGen now has 5 retail and warehouse locations servicing the growing number of commercial cultivators in the New England market. "GreenLife marks our 5th acquisition in 2019, adding $7 Million in revenue to our Company.
For the first quarter of 2019, GrowGeneration reported adjusted EBITDA of $615,509, up from a loss $366,945 in the same quarter last year. Co-founder and CEO Darren Lampert qualifies these results as “transformational,” noting GrowGeneration has improved its financial performance in all areas.
DENVER , May 6, 2019 /PRNewswire/ - GrowGeneration Corp. (OTCQX: GRWG ), GrowGeneration ("GrowGen" or the "Company") one of the largest specialty retail hydroponic and organic gardening ...
DENVER , May 3, 2019 /PRNewswire/ - GrowGeneration Corp. (OTCQX: GRWG) ("GrowGen" or the "Company"), one of the largest specialty retail hydroponic and organic gardening store chains, today ...
Cannabis-focused Merida Capital Partners announced a number of developments, including the launch of its third fund, opening a new office in Canada and expanding its team with three new hires. Merida's third $200 million fund will focus on concentrated, high conviction investments in leading companies in the cannabis industry. In addition, as part of its international expansion, Merida has opened an office in Toronto that will work with its flagship office in New York and satellite offices in San Francisco and Bethesda, Maryland.
HENDERSON, NV / ACCESSWIRE / April 3, 2019 / According to a Dec '18 Forbes article, "most of the businesses growing, processing and selling cannabis across the United States are small independently-held ...
Sets 2019 Revenue Guidance at $52M - 58M , Adjusted EBITDA of $.12 - $.16 per share DENVER, CO , April 1, 2019 /PRNewswire/ - GrowGeneration Corp. (OTCQX: GRWG ), ("GrowGen" or the "Company") ...
DENVER, CO , March 27, 2019 /PRNewswire/ - GrowGeneration Corp. (OTCQX: GRWG), GrowGeneration ("GrowGen" or the "Company") one of the largest specialty retail hydroponic and organic ...
Whereas in the past, society largely condemned cannabis and refused to consider the potential benefits of investing in cannabis and/or utilizing cannabis products, those feelings are slowly dissipating. The positive shift in public opinion can be attributed to the fact that the medical community has released data supporting the use of cannabidiol as a form of alternative treatment, given its effectiveness as an anti-inflammatory. Like other sectors whirring with innovation, the cannabis industry is rapidly progressing into the future and, rather than be left behind, investors looking for potential opportunities may want to keep cannabis companies on their radars.