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

Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) was the target of a significant drop in short interest in the month of 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 currently 7.0 days. Approximately 3.2% of the shares of the stock are short sold.

Hydrofarm Holdings Group Trading Down 1.4 %

Shares of NASDAQ:HYFM opened at $0.69 on Thursday. The firm has a fifty day moving average of $0.60 and a two-hundred day moving average of $0.76. The firm has a market capitalization of $31.73 million, a P/E ratio of -0.52 and a beta of 1.78. Hydrofarm Holdings Group has a 12-month low of $0.43 and a 12-month high of $1.49. The company has a quick ratio of 1.49, a current ratio of 3.15 and a debt-to-equity ratio of 0.48.

Hydrofarm Holdings Group (NASDAQ:HYFM) last announced its 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 firm had revenue of $54.79 million during 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%. On average, equities analysts expect that Hydrofarm Holdings Group will post -1.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on HYFM shares. 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 note 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 note on Monday, July 29th.

Insider Activity at Hydrofarm Holdings Group

In other Hydrofarm Holdings Group news, CEO William Douglas Toler bought 100,000 shares of Hydrofarm Holdings Group 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 completion of the acquisition, the chief executive officer now owns 1,875,815 shares of the company’s stock, valued at approximately $937,907.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

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