Hydrofarm Holdings Group (NASDAQ:HYFM) Stock Price Up 2.9% – Time to Buy?

Shares of Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) shot up 2.9% on Friday . The company traded as high as $0.71 and last traded at $0.70. 89,812 shares changed hands during trading, a decline of 49% from the average session volume of 175,650 shares. The stock had previously closed at $0.68.

Hydrofarm Holdings Group Trading Up 2.9 %

The company’s fifty day moving average is $0.66 and its two-hundred day moving average is $0.66. The stock has a market cap of $32.30 million, a price-to-earnings ratio of -0.50 and a beta of 1.91. The company has a quick ratio of 1.41, a current ratio of 3.24 and a debt-to-equity ratio of 0.51.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in shares of Hydrofarm Holdings Group by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 475,634 shares of the company’s stock valued at $328,000 after buying an additional 26,350 shares in the last quarter. XTX Topco Ltd lifted its stake in shares of Hydrofarm Holdings Group by 80.3% in the 3rd quarter. XTX Topco Ltd now owns 42,982 shares of the company’s stock worth $30,000 after acquiring an additional 19,147 shares during the period. Jane Street Group LLC boosted its holdings in Hydrofarm Holdings Group by 82.2% in the 3rd quarter. Jane Street Group LLC now owns 45,115 shares of the company’s stock valued at $31,000 after purchasing an additional 20,357 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Hydrofarm Holdings Group by 6.7% during the second quarter. Renaissance Technologies LLC now owns 730,600 shares of the company’s stock worth $504,000 after acquiring an additional 45,800 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Hydrofarm Holdings Group by 18.2% during the 1st 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 during the period. 26.61% of the stock is owned by institutional investors and hedge funds.

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.