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Cannabis Stock GrowGeneration Corp (GRWG) Surges 7.24% Tuesday; Analysts Call It A Strong Buy, Are They Wrong?

Tuesday, February 15, 2022 02:32 PM | InvestorsObserver Analysts
Cannabis Stock GrowGeneration Corp (GRWG) Surges 7.24% Tuesday; Analysts Call It A Strong Buy, Are They Wrong?

GRWG, a player in the cannabis market, is higher by 7.24% Tuesday as it outperforms the market as a whole. Analysts who follow GrowGeneration Corp (GRWG) on average expect it to rise 119.54% over the next twelve months. Those same analysts give the stock an average rating of Strong Buy. That average rating earns GrowGeneration Corp an Analyst Ranking of 39, which means it ranks higher than 39 of stocks, based on data compiled by InvestorsObserver.

Overall Score - 4.2
Wall Street analysts are rating GRWG a Strong Buy today. Find out what this means to you and get the rest of the rankings on GRWG!

Why are Analyst Ratings Important?

Analysts know the inner workings of the companies they follow better than anyone but the companies’ management. You can learn a lot about a company from studying the financial statements, but analysts ask questions on conference calls and understand the intricacies of each of the businesses they cover. Analysts understand how bad weather in one part of the world can disrupt supply chains, or disrupt shopping patterns. This lets traders make decisions before a quarterly report that could be worse than expected. InvestorsObserver aggregates the ratings of all the analysts covering a given stock, takes the average of those ratings and then percentile ranks the averages. That provides a level of granularity that is significantly better than just the three levels provided by traditional buy/hold/sell ratings.

What's Happening With GrowGeneration Corp Stock Today?

GrowGeneration Corp (GRWG) stock is trading at $9.48 as of 2:24 PM on Tuesday, Feb 15, a gain of $0.64, or 7.24% from the previous closing price of $8.84. The stock has traded between $9.08 and $9.51 so far today. Volume today is less active than usual. So far 884,258 shares have traded compared to average volume of 2,371,654 shares. Click Here to get the full Stock Report for GrowGeneration Corp stock.

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