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In a recent transaction, Darren Lampert, CEO of GrowGeneration Corp. (NASDAQ:GRWG), acquired 82,639 shares of common stock at an average price of $1.19 per share. The total purchase amounted to $98,340. Following this acquisition, Lampert now directly owns 1,728,522 shares of the company. The purchase comes as InvestingPro data shows the stock has gained over 25% in the past week, though it remains significantly below its 52-week high of $3.38.
The transaction, filed with the Securities and Exchange Commission, also notes additional indirect holdings. These include 88,474 shares owned by a spousal trust and 50,000 shares held in a charitable fund, over which Lampert has voting and dispositive power as trustee. However, he disclaims beneficial ownership of the shares in the spousal trust. According to InvestingPro, this insider buying aligns with the company’s strong balance sheet position, as it holds more cash than debt and maintains a healthy current ratio of 4.66.
This purchase reflects Lampert’s continued investment in GrowGeneration, a company specializing in retail building materials, hardware, and garden supplies. The company currently trades at a modest price-to-book ratio of 0.59, suggesting potential value opportunity. For deeper insights into GRWG’s valuation and 12 additional ProTips, visit InvestingPro.
In other recent news, GrowGeneration Corp reported its fourth-quarter 2024 earnings, revealing a significant loss and a decline in revenue, both of which missed analyst estimates. The company reported an earnings per share (EPS) of -$0.39, falling short of the expected -$0.16. Revenue for the quarter was $37.4 million, below the anticipated $42.37 million and a decrease from $49.5 million in the same quarter the previous year. Despite these financial challenges, GrowGeneration ended the year with a cash reserve of $56.5 million and no debt, having completed a $6 million share repurchase program. Looking ahead, the company has provided revenue guidance for 2025 in the range of $170 million to $180 million, with a projected adjusted EBITDA between -$2 million and +$2 million. The company’s strategic focus includes expanding its proprietary brands and enhancing its B2B e-commerce platform. Analysts from firms such as Alliance Global Partners (NYSE:GLP) and Lake Street have shown interest in the company’s gross margin improvements and strategic shifts towards e-commerce. GrowGeneration’s leadership remains optimistic about achieving profitability by the second quarter of 2025.
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