Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) Short Interest Update

Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 1,270,000 shares, a drop of 5.9% from the August 15th total of 1,350,000 shares. Based on an average trading volume of 180,300 shares, the days-to-cover ratio is presently 7.0 days. Currently, 3.2% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus cut their price target 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 target price 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.

Insider Buying and Selling at Hydrofarm Holdings Group

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

Institutional Inflows and Outflows

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

Hydrofarm Holdings Group Stock Down 2.9 %

Shares of NASDAQ HYFM opened at $0.70 on Wednesday. The business’s fifty day moving average price is $0.60 and its 200-day moving average price is $0.76. Hydrofarm Holdings Group has a one year low of $0.43 and a one year high of $1.56. The stock has a market capitalization of $32.19 million, a PE ratio of -0.53 and a beta of 1.78. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.15 and a quick ratio of 1.49.

Hydrofarm Holdings Group (NASDAQ:HYFM) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.30) earnings per share (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 analysts’ expectations of $53.00 million. Hydrofarm Holdings Group had a negative return on equity of 18.46% and a negative net margin of 33.83%. On average, equities research analysts anticipate that Hydrofarm Holdings Group will post -1.09 EPS for the current year.

About Hydrofarm Holdings Group

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.