Investment company Awm is selling $72,295 worth of Urban Gro shares from Investing.com

AWM Investment Company, Inc., a significant shareholder in urban-gro, Inc. (NASDAQ:UGRO), recently sold shares of the company. AWM sold a total of 52,191 shares in two days, according to a filing with the Securities and Exchange Commission. The micro-cap company, currently valued at $17.86 million, has received a FAIR rating on its financial health from analysts at InvestingPro despite reporting a negative EBITDA of -12 in the last twelve months .03 million faced challenges.

The transactions, which occurred on November 26 and 27, 2024, involved the sale of shares at prices between $1.3852 and $1.48 per share. The total value of the shares sold was approximately $72,295. Although the stock has seen significant volatility, InvestingPro’s analysis suggests the stock is currently undervalued. The comprehensive Pro Research Report, which covers more than 1,400 US stocks, offers further insights.

Following these transactions, AWM Investment Company retains ownership of 1,345,645 shares of Urban-Gro. The shares are held indirectly by AWM through limited partnerships, as stated in the filing. AWM is acting as investment advisor to Special Situations Fund III QP, LP and Special Situations Cayman Fund, LP, which hold these shares.

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

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

The company has also established a processing and extraction division to meet growing demand in the cannabis sector and has secured contracts worth approximately $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 location for the Brazilian restaurant chain Fogo de Chão in Texas.

These are the latest developments at urban-gro, which also include the renovation of the Davidson Student Center Columbus (WA:) State University and the construction of a new PF Chang’s restaurant location in Colorado. The company has added an additional 1.2 million shares to its stock incentive plan and named Sadler, Gibb & Associates LLC as its new independent registered public accounting firm.

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