GrowGeneration (GRWG) Stock: $5 Price Target And Hold Rating

By Amit Chowdhry ● May 13, 2022
  • The shares of GrowGeneration (NASDAQ: GRWG) have received a $5 price target from Craig-Hallum. These are the details.

The shares of GrowGeneration (NASDAQ: GRWG) have received a $5 price target from Craig-Hallum. And Craig-Hallum analyst Eric Des Lauriers is maintaining a “Hold” rating on the shares.

Lauriers adjusted the rating following the company’s first-quarter results. These are the Q1 2022 highlights compared to the prior-year period:

— Net sales declined 9.2% to $81.8 million driven by softer industry demand

— Comparable store sales for the quarter decreased 35.5%

— Net loss of $5.2 million compared to net income of $6.1 million last year

— Loss per share of $0.09 in the quarter

— Adjusted EBITDA loss of $0.7 million

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.