Hydrofarm Holdings Group (NASDAQ:HYFM – Get Rating) had its price objective reduced by stock analysts at UBS Group to $4.00 in a report issued on Friday, Stock Target Advisor reports. UBS Group’s target price points to a potential upside of 7.82% from the stock’s previous close.
A number of other brokerages have also weighed in on HYFM. Truist Financial dropped their price objective on Hydrofarm Holdings Group from $50.00 to $30.00 in a report on Monday, March 28th. Stifel Nicolaus downgraded Hydrofarm Holdings Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $13.00 to $8.00 in a research report on Wednesday, May 11th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Hydrofarm Holdings Group from $36.00 to $18.00 in a research report on Wednesday, May 11th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Hydrofarm Holdings Group currently has a consensus rating of “Moderate Buy” and an average price target of $16.00.
Hydrofarm Holdings Group Trading Down 4.9 %
Shares of HYFM stock opened at $3.71 on Friday. The business’s fifty day moving average price is $4.87 and its 200 day moving average price is $12.05. Hydrofarm Holdings Group has a 1-year low of $2.96 and a 1-year high of $56.31. The firm has a market capitalization of $166.43 million, a PE ratio of -10.60 and a beta of 1.91. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.94 and a quick ratio of 0.80.
Hydrofarm Holdings Group (NASDAQ:HYFM – Get Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported ($0.17) earnings per share 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 business had revenue of $111.38 million for the quarter, compared to analyst estimates of $128.58 million. As a group, sell-side analysts forecast that Hydrofarm Holdings Group will post 0.08 EPS for the current fiscal year.
Institutional Trading of Hydrofarm Holdings Group
Institutional investors and hedge funds have recently made changes to their positions in the stock. Granite Point Capital Management L.P. purchased a new stake in shares of Hydrofarm Holdings Group in the fourth quarter valued at $424,000. Wealth Effects LLC purchased a new stake in shares of Hydrofarm Holdings Group in the fourth quarter valued at $251,000. New York State Common Retirement Fund lifted its position in shares of Hydrofarm Holdings Group by 19.1% in the fourth quarter. New York State Common Retirement Fund now owns 27,592 shares of the company’s stock valued at $781,000 after acquiring an additional 4,426 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Hydrofarm Holdings Group during the fourth quarter worth about $38,430,000. Finally, Lapides Asset Management LLC purchased a new position in Hydrofarm Holdings Group during the first quarter worth about $2,303,000. 63.20% of the stock is currently owned by hedge funds and other institutional investors.
Hydrofarm Holdings Group Company Profile
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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Source: defenseworld.net
