Hydrofarm Holdings Group (NASDAQ:HYFM – Get Rating) had its price target reduced by analysts at UBS Group to $4.00 in a research note issued on Friday, Stock Target Advisor reports. UBS Group’s price objective would indicate a potential upside of 7.82% from the stock’s current price.
Other research analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Hydrofarm Holdings Group from $36.00 to $18.00 in a research report on Wednesday, May 11th. Truist Financial lowered their target price on shares of Hydrofarm Holdings Group from $50.00 to $30.00 in a research note on Monday, March 28th. Finally, Stifel Nicolaus lowered shares of Hydrofarm Holdings Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $13.00 to $8.00 in a research note on Wednesday, May 11th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.00.
Hydrofarm Holdings Group Price Performance
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NASDAQ:HYFM traded down $0.19 during mid-day trading on Friday, hitting $3.71. 629,697 shares of the company’s stock traded hands, compared to its average volume of 651,394. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.80 and a current ratio of 2.94. The firm’s 50 day simple moving average is $4.96 and its 200 day simple moving average is $12.27. Hydrofarm Holdings Group has a 1 year low of $2.96 and a 1 year high of $56.31. The company has a market cap of $166.44 million, a PE ratio of -10.60 and a beta of 1.91.
Hydrofarm Holdings Group (NASDAQ:HYFM – Get Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.10). Hydrofarm Holdings Group had a positive return on equity of 1.44% and a negative net margin of 3.09%. The firm had revenue of $111.38 million for the quarter, compared to analysts’ expectations of $128.58 million. Sell-side analysts expect that Hydrofarm Holdings Group will post 0.08 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of HYFM. Nisa Investment Advisors LLC acquired a new position in Hydrofarm Holdings Group during the first quarter worth $26,000. Ensign Peak Advisors Inc acquired a new stake in Hydrofarm Holdings Group in the fourth quarter worth about $112,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Hydrofarm Holdings Group by 379.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,690 shares of the company’s stock worth $133,000 after purchasing an additional 3,711 shares during the period. Van ECK Associates Corp boosted its holdings in Hydrofarm Holdings Group by 45.9% during the first quarter. Van ECK Associates Corp now owns 5,089 shares of the company’s stock worth $77,000 after buying an additional 1,600 shares during the last quarter. Finally, Amalgamated Bank bought a new position in Hydrofarm Holdings Group during the first quarter worth about $96,000. 63.20% of the stock is owned by institutional investors.
About Hydrofarm Holdings Group
Hydrofarm Holdings Group, Inc, together with its subsidiaries, engages in the manufacture and distribution of controlled environment agriculture (CEA) equipment and supplies in the United States and Canada. The company offers agricultural lighting devices, indoor climate control equipment, hydroponics and nutrients, and plant additives used to grow, farm, and cultivate cannabis, flowers, fruits, plants, vegetables, grains, and herbs in controlled environment; and distributes CEA equipment and supplies, which include grow light systems; heating, ventilation, and air conditioning systems; humidity and carbon dioxide monitors and controllers; water pumps, heaters, chillers, and filters; nutrient and fertilizer delivery systems; and various growing media made from soil, rock wool or coconut fiber.
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