Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) Short Interest Up 15.4% in August

Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) was the target of a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 1,350,000 shares, an increase of 15.4% from the July 31st total of 1,170,000 shares. Based on an average daily volume of 121,100 shares, the days-to-cover ratio is presently 11.1 days.

Hydrofarm Holdings Group Stock Down 5.7 %

Shares of HYFM traded down $0.03 during trading hours on Monday, hitting $0.44. The company had a trading volume of 314,500 shares, compared to its average volume of 168,690. The company has a current ratio of 3.15, a quick ratio of 1.49 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $20.02 million, a PE ratio of -0.33 and a beta of 1.81. Hydrofarm Holdings Group has a one year low of $0.43 and a one year high of $1.64. The company’s fifty day moving average price is $0.62 and its two-hundred day moving average price is $0.78.

Hydrofarm Holdings Group (NASDAQ:HYFM) last announced its earnings results on Thursday, August 8th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.04). The firm had revenue of $54.79 million during the quarter, compared to the consensus estimate of $53.00 million. Hydrofarm Holdings Group had a negative return on equity of 18.46% and a negative net margin of 33.83%. As a group, equities analysts forecast that Hydrofarm Holdings Group will post -1.09 earnings per share for the current fiscal year.

Insider Transactions at Hydrofarm Holdings Group

In other news, CEO William Douglas Toler acquired 100,000 shares of Hydrofarm Holdings Group stock in a transaction on Wednesday, August 28th. The shares were bought at an average cost of $0.50 per share, for a total transaction of $50,000.00. Following the acquisition, the chief executive officer now directly owns 1,875,815 shares of the company’s stock, valued at approximately $937,907.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Hydrofarm Holdings Group by 158.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 85,123 shares of the company’s stock worth $92,000 after purchasing an additional 52,194 shares during the last quarter. AXS Investments LLC grew its stake in Hydrofarm Holdings Group by 29.6% during the 4th quarter. AXS Investments LLC now owns 544,375 shares of the company’s stock worth $499,000 after buying an additional 124,412 shares during the last quarter. Renaissance Technologies LLC increased its position in Hydrofarm Holdings Group by 6.7% during the 2nd quarter. Renaissance Technologies LLC now owns 730,600 shares of the company’s stock valued at $504,000 after buying an additional 45,800 shares in the last quarter. Tidal Investments LLC purchased a new stake in Hydrofarm Holdings Group in the first quarter valued at about $1,118,000. Finally, Vanguard Group Inc. raised its stake in Hydrofarm Holdings Group by 18.2% in the first quarter. Vanguard Group Inc. now owns 1,876,913 shares of the company’s stock valued at $2,027,000 after buying an additional 288,701 shares during the last quarter. Institutional investors own 26.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HYFM. Stifel Nicolaus dropped their target price on shares of Hydrofarm Holdings Group from $0.90 to $0.75 and set a “hold” rating on the stock in a report on Monday, July 29th. UBS Group dropped their price objective on shares of Hydrofarm Holdings Group from $1.15 to $0.65 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th.

Hydrofarm Holdings Group Company Profile

Hydrofarm Holdings Group, Inc, together with its subsidiaries, manufactures and distributes controlled environment agriculture (CEA) equipment and supplies in the United States and Canada. The company provides agricultural lighting devices, indoor climate control equipment, and nutrients, as well as plant additives used to grow, farm, and cultivate cannabis, flowers, fruits, plants, vegetables, grains, and herbs in controlled environment.