Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) Sees Large Decline in Short Interest

Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 1,180,000 shares, a decline of 6.3% from the September 30th total of 1,260,000 shares. Approximately 3.2% of the shares of the company are sold short. Based on an average daily volume of 193,000 shares, the short-interest ratio is presently 6.1 days.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HYFM. UBS Group reduced their price target on 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 reduced 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 report on Monday, July 29th.

Hydrofarm Holdings Group Price Performance

NASDAQ:HYFM traded down $0.00 during midday trading on Thursday, hitting $0.66. 2,044 shares of the stock were exchanged, compared to its average volume of 176,568. The company has a market capitalization of $30.35 million, a price-to-earnings ratio of -0.42 and a beta of 1.84. The company has a current ratio of 3.15, a quick ratio of 1.49 and a debt-to-equity ratio of 0.48. Hydrofarm Holdings Group has a one year low of $0.43 and a one year high of $1.20. The business has a 50-day moving average price of $0.64 and a two-hundred day moving average price of $0.71.

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

Insider Buying and Selling at Hydrofarm Holdings Group

In other Hydrofarm Holdings Group news, CEO William Douglas Toler acquired 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were purchased at an average price 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 $937,907.50. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 4.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Hydrofarm Holdings Group

Large investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its holdings 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 worth $504,000 after buying an additional 45,800 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Hydrofarm Holdings Group by 158.5% during the 1st 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. Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 288,701 shares in the last quarter. Finally, Tidal Investments LLC acquired a new stake in shares of Hydrofarm Holdings Group in the first quarter worth $1,118,000. 26.61% of the stock is owned by institutional investors.

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.