Awm investment company sells $72,295 worth of urban-gro stock by Investing.com

AWM Investment Company, Inc., a significant shareholder in urban-gro, Inc. (NASDAQ:UGRO), has recently sold shares of the company’s stock. According to a filing with the Securities and Exchange Commission, AWM disposed of a total of 52,191 shares over two days. The micro-cap company, currently valued at $17.86 million, has received a FAIR financial health rating from InvestingPro analysts, despite facing challenges with negative EBITDA of -$12.03 million in the trailing twelve months.

The transactions, which took place on November 26 and November 27, 2024, involved the sale of shares at prices ranging from $1.3852 to $1.48 per share. The total value of the shares sold was approximately $72,295. While the stock has shown significant volatility, InvestingPro analysis suggests that the stock is currently undervalued, with additional insight available through their comprehensive Pro Research Report covering 1,400+ US stocks.

Following these transactions, AWM Investment Company retains ownership of 1,345,645 shares of urban-gro stock. The shares are owned indirectly by AWM through limited partnerships, as stated in the application. AWM acts as investment adviser to Special Situations Fund III QP, LP and Special Situations Cayman Fund, LP, which owns these shares.

The filing also revealed that David M. Greenhouse and Adam C. Stettner, controlling directors of AWM, signed the report on November 29, 2024.

In other recent news, urban-gro has actively expanded its operations and secured new contracts. The company significantly exceeded its first quarter 2024 revenue guidance by $15.5 million and maintains its full year revenue guidance of over $84 million. However, it has faced a Nasdaq compliance issue due to a late filing of its quarterly financial statements, reportedly due to a need to restate financial statements for the 2022 and 2023 financial years.

The company has also launched a Processing and Extraction Division to meet the growing demand in the cannabis sector and secured contracts worth around $12 million in this industry. In addition, urban-gro has been selected for various design and construction projects, including the Henry County Water Authority project in Georgia, the new Union City Fire Station in Georgia, and a new establishment for the Brazilian restaurant chain Fogo de Chão in Texas.

It is the latest development at urban-gro, which also includes the renovation of the Davidson Student Center at Columbus (WA:) State University and the construction of a new PF Chang’s restaurant in Colorado. The company has expanded its stock incentive plan by an additional 1.2 million shares and appointed Sadler, Gibb & Associates LLC as its new independent registered public accounting firm.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.