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

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HYFM. UBS Group decreased their price objective on shares of Hydrofarm Holdings Group from $1.15 to $0.65 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Stifel Nicolaus decreased their price objective on shares of Hydrofarm Holdings Group from $0.90 to $0.75 and set a “hold” rating for the company in a research report on Monday, July 29th.

Hydrofarm Holdings Group Stock Performance

Shares of HYFM stock opened at $0.69 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.49 and a current ratio of 3.15. Hydrofarm Holdings Group has a one year low of $0.43 and a one year high of $1.49. The company’s 50-day simple moving average is $0.60 and its 200-day simple moving average is $0.76. The stock has a market capitalization of $31.73 million, a price-to-earnings ratio of -0.52 and a beta of 1.78.

Hydrofarm Holdings Group (NASDAQ:HYFM) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.04). The company had revenue of $54.79 million for 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%. Equities analysts anticipate that Hydrofarm Holdings Group will post -1.09 earnings per share for the current fiscal year.

Insider Transactions at Hydrofarm Holdings Group

In related news, CEO William Douglas Toler purchased 100,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was purchased 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 owns 1,875,815 shares in the company, valued at $937,907.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Hydrofarm Holdings Group

Several institutional investors and hedge funds have recently bought and sold shares of HYFM. Mirae Asset Global Investments Co. Ltd. increased its stake 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 valued at $92,000 after purchasing an additional 52,194 shares during the period. AXS Investments LLC increased its stake in shares of Hydrofarm Holdings Group by 29.6% in the fourth quarter. AXS Investments LLC now owns 544,375 shares of the company’s stock valued at $499,000 after purchasing an additional 124,412 shares during the period. Renaissance Technologies LLC increased its stake in shares of Hydrofarm Holdings Group by 6.7% in the second quarter. Renaissance Technologies LLC now owns 730,600 shares of the company’s stock valued at $504,000 after purchasing an additional 45,800 shares during the period. Tidal Investments LLC acquired a new position in shares of Hydrofarm Holdings Group during the first quarter valued at approximately $1,118,000. Finally, Vanguard Group Inc. increased its stake 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 valued at $2,027,000 after acquiring an additional 288,701 shares during the period. Institutional investors and hedge funds own 26.61% of the company’s stock.

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.