AWM Investment Company, Inc., a prominent investment adviser, has recently sold shares in urban-gro, Inc. (NASDAQ:UGRO), a company specializing in wholesale machinery, equipment, and supplies. The transaction, which took place on April 15, 2024, involved the sale of 1,000 shares at a weighted average price of $1.7 per share, totaling $1,700.
The shares sold by AWM Investment Company are managed on behalf of Special Situations Fund III QP, L.P. and Special Situations Cayman Fund, L.P., with AWM holding sole voting and investment power over the shares. Following the sale, AWM Investment Company's holdings in urban-gro Inc. amount to 1,444,037 shares.
It's noteworthy that the shares are held indirectly by AWM through its advisory role for the aforementioned funds. The transaction was signed off by Adam Stettner, one of the controlling principals of AWM.
Investors keeping tabs on insider transactions like these may find this sale of interest as it reflects AWM Investment Company's latest move in the market concerning urban-gro Inc.
InvestingPro Insights
In light of AWM Investment Company's recent sale of shares in urban-gro, Inc. (NASDAQ:UGRO), current and potential investors might benefit from additional context provided by InvestingPro. Insights from InvestingPro reveal that urban-gro has been facing financial challenges, with the company quickly burning through cash and suffering from weak gross profit margins. Moreover, analysts do not anticipate the company will be profitable this year, which is a critical consideration for investors evaluating the company's future prospects.
From a data standpoint, urban-gro's market capitalization stands at 19.39 million USD, indicating a relatively small company size which could contribute to the high price volatility that the stock has experienced. The price volatility is also reflected in the significant 25.91% drop in the one-month price total return as of the latest data. Additionally, the company's gross profit margin for the last twelve months as of Q4 2023 was reported at 14.39%, reinforcing concerns about profitability mentioned in the InvestingPro Tips.
For investors seeking a deeper dive into urban-gro's financial health and stock performance, InvestingPro offers a suite of additional tips, with a total of 11 more tips available for UGRO at https://www.investing.com/pro/UGRO. These insights could prove invaluable for making informed decisions, especially in light of the recent insider sale. Moreover, users can take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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