Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM – Get Rating) was the recipient of a large growth in short interest during the month of December. As of December 30th, there was short interest totalling 3,110,000 shares, a growth of 8.0% from the December 15th total of 2,880,000 shares. Currently, 8.0% of the shares of the stock are sold short. Based on an average daily volume of 912,800 shares, the short-interest ratio is currently 3.4 days.
Analyst Upgrades and Downgrades
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Separately, Truist Financial cut their price target on shares of Hydrofarm Holdings Group from $10.00 to $5.00 in a report on Thursday, November 10th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $11.83.
Hydrofarm Holdings Group Trading Up 9.6 %
HYFM opened at $1.71 on Monday. The company has a current ratio of 3.83, a quick ratio of 1.02 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $77.24 million, a PE ratio of -0.29 and a beta of 2.23. Hydrofarm Holdings Group has a 1-year low of $1.18 and a 1-year high of $21.25. The firm has a 50-day moving average price of $2.00 and a two-hundred day moving average price of $2.60.
Hydrofarm Holdings Group (NASDAQ:HYFM – Get Rating) last issued its quarterly earnings results on Wednesday, November 9th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.11. Hydrofarm Holdings Group had a negative net margin of 66.39% and a negative return on equity of 6.55%. The company had revenue of $74.16 million during the quarter, compared to analysts’ expectations of $65.98 million. As a group, equities analysts anticipate that Hydrofarm Holdings Group will post -1.26 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Hydrofarm Holdings Group
Several institutional investors have recently modified their holdings of the business. Chico Wealth RIA acquired a new stake in shares of Hydrofarm Holdings Group during the 4th quarter worth approximately $33,000. Bank of New York Mellon Corp grew its position in shares of Hydrofarm Holdings Group by 10.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 140,858 shares of the company’s stock worth $273,000 after buying an additional 13,408 shares during the period. State Street Corp grew its position in shares of Hydrofarm Holdings Group by 2.4% during the 3rd quarter. State Street Corp now owns 1,459,624 shares of the company’s stock worth $2,832,000 after buying an additional 34,495 shares during the period. Two Sigma Advisers LP grew its position in shares of Hydrofarm Holdings Group by 1,340.2% during the 3rd quarter. Two Sigma Advisers LP now owns 293,800 shares of the company’s stock worth $570,000 after buying an additional 273,400 shares during the period. Finally, Two Sigma Investments LP grew its position in shares of Hydrofarm Holdings Group by 25.3% during the 3rd quarter. Two Sigma Investments LP now owns 625,542 shares of the company’s stock worth $1,214,000 after buying an additional 126,326 shares during the period. Institutional investors and hedge funds own 47.37% of the company’s stock.
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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