Hydrofarm Holdings Group (NASDAQ:HYFM) Trading Up 4.7% – What’s Next?

Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM)’s share price traded up 4.7% during trading on Thursday . The stock traded as high as $0.66 and last traded at $0.64. 267,350 shares changed hands during mid-day trading, an increase of 52% from the average session volume of 175,675 shares. The stock had previously closed at $0.61.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. UBS Group decreased 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 report on Wednesday, August 14th. Stifel Nicolaus cut their target price on Hydrofarm Holdings Group from $0.90 to $0.75 and set a “hold” rating on the stock in a research report on Monday, July 29th.

Hydrofarm Holdings Group Stock Performance

The company has a market capitalization of $29.48 million, a price-to-earnings ratio of -0.45 and a beta of 1.83. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.41 and a current ratio of 3.24. The firm has a 50-day simple moving average of $0.64 and a two-hundred day simple moving average of $0.67.

Insider Buying and Selling at Hydrofarm Holdings Group

In other Hydrofarm Holdings Group news, CEO William Douglas Toler purchased 100,000 shares of the business’s 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 completion of the purchase, the chief executive officer now directly owns 1,875,815 shares in the company, valued at approximately $937,907.50. This represents a 5.63 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HYFM. Tidal Investments LLC acquired a new position in Hydrofarm Holdings Group in the first quarter valued at approximately $1,118,000. Vanguard Group Inc. grew its position in shares of Hydrofarm Holdings Group by 18.2% in the 1st 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. Renaissance Technologies LLC raised its stake in Hydrofarm Holdings Group by 6.7% during the 2nd quarter. Renaissance Technologies LLC now owns 730,600 shares of the company’s stock worth $504,000 after acquiring an additional 45,800 shares in the last quarter. Jane Street Group LLC lifted its position in Hydrofarm Holdings Group by 82.2% in the third quarter. Jane Street Group LLC now owns 45,115 shares of the company’s stock valued at $31,000 after acquiring an additional 20,357 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Hydrofarm Holdings Group by 5.9% in the third quarter. Geode Capital Management LLC now owns 475,634 shares of the company’s stock valued at $328,000 after acquiring an additional 26,350 shares in the last quarter. Hedge funds and other institutional investors own 26.61% of the company’s stock.

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.