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Record Backlog Heading into Q4, Ongoing Stock Repurchase Program, Increasing Institutional Ownership, and Impressive Year over Year Revenue and EPS Growth!
Urban-Gro, Inc. (NASDAQ: UGRO) an integrated professional services and design-build firm offering solutions to the Controlled Environment Agriculture (“CEA”) and commercial sectors.
Turn-key approach to integrated plant-focused architecture and engineering services helping their clients achieve their goals of building and operating a profitable facility.
Urban-Gro gives their clients the economic advantage of the efficient interaction between plants, equipment, and the environment.
Ongoing Stock Repurchase Program (Stock Buyback)
Announced September 12th, 2022 – New stock repurchase program authorizing the repurchase of up to $2 million of its common stock. The new repurchase program succeeds its prior $8.5 million stock repurchase program that has since been completed.
Last Reported Shares Outstanding – 10.67M
Shares in the Public Float – 6.67M
Record Fourth Quarter 2022 Backlog of Approximately $87 million & Reaffirms Fourth Quarter 2022 Guidance (Note that the current Q4 backlog exceeds the entire 2021 annual revenue)
The Company expects to enter 2023 with record consolidated backlog of approximately $87 million, a sequential increase of approximately $20 million from third quarter 2022.
The Company is reaffirming its expectation for fourth quarter 2022 guidance, with revenue of approximately $17 million and Adjusted EBITDA of approximately ($1.5) million.
Full Press Release
Urban-Gro, Inc. has eight offices in the U.S. and one in Europe.
Short Video About Urban-Gro Facility Design with Testimonials
Website
Indoor Commercial Farming Produce
I encourage you to view the Investor Presentation
Insiders Have Been Accumulating
Insider Ownership is up 140% Over the Past Six Months
Impressive Growth in Revenue and Gross Profits Over the Last Six Years (Numbers below are in MM)
Sales and EPS Showing Strong Growth Over the Last Five Years
Large and Increasing Institutional Ownership
Institutional Ownership is up 8.72% Over the Past Three Months
List of Institutional Holders
UGRO Institutional 12 month In and Out-Flow
Analyst Ratings, 4 of 4 Give Urban-Gro a Buy Rating
(NASDAQ: UGRO) is Currently $3.33/Share as of Friday’s Close.
According to the issued ratings of 4 analysts in the last year, the consensus rating for urban-gro stock is Buy based on the current 4 buy ratings for UGRO. The average twelve-month price prediction for Urban-Gro is $9.00 with a high price target of $12.00 and a low price target of $6.00/share. (Source Market Beat)
Bullish Chart Pattern
Technical Analysis
As indicated in the chart above UGRO recently crossed the 20 DMA in a bullish manner.
UGRO’s MACD Histogram Crosses Above Signal Line
The Moving Average Convergence Divergence (MACD) for UGRO turned positive on January 09, 2023. Looking at past instances where UGRO’s MACD turned positive, the stock continued to rise in 25 of 27 cases over the following month. The odds of a continued upward trend are 90%. (source tickeron)
We are looking for a break above the 50 DMA at $3.83/share for continuation.
This should give you a starting point for your due diligence.
We will have more on UGRO soon,
The Traders News Team
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