GrowGeneration Corp. (NASDAQ: GRWG) is an American specialty gardening product company based in Denver, Colorado. As a major hydroponic equipment supplier, it’s a complementary pick to bargain cannabis stocks. GrowGeneration’s products are specifically marketed to cannabis producers, and its business has been growing rapidly along with the rest of the industry.
The company generated $79.73 million in the 2019 fiscal year, an increase of 174.94% year over year. Its gross profit margin was 22.45%, with an EBITDA margin of 4.01%. It’s difficult to find profitable companies at the bargain end of the cannabis market, making this pick fairly unique.
The current average price target for GrowGeneration is $8.00, although this figure could be revised in the coming weeks, especially considering the momentum behind the stock. The growth charts have been impressive in the year to date, despite wider Coronavirus-related fears in the market.
Long term-potential as a key cannabis industry supplier and its profitability make this an easy bargain pick for alternative investors.
- 1 Year Price Growth: 88%
- YTD Price Growth: 17%
- 3 Month Price Growth: 14%
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