Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) Sees Significant Drop in Short Interest

Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) was the recipient of a significant decrease in short interest in December. As of December 15th, there was short interest totalling 1,050,000 shares, a decrease of 6.3% from the November 30th total of 1,120,000 shares. Currently, 2.9% of the company’s shares are sold short. Based on an average daily volume of 134,200 shares, the short-interest ratio is currently 7.8 days.

Hedge Funds Weigh In On Hydrofarm Holdings Group

Several hedge funds have recently made changes to their positions in HYFM. XTX Topco Ltd lifted its stake in shares of Hydrofarm Holdings Group by 80.3% during the 3rd quarter. XTX Topco Ltd now owns 42,982 shares of the company’s stock worth $30,000 after buying an additional 19,147 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Hydrofarm Holdings Group by 82.2% during the 3rd quarter. Jane Street Group LLC now owns 45,115 shares of the company’s stock worth $31,000 after acquiring an additional 20,357 shares during the period. 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 purchasing an additional 26,350 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in 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 acquiring an additional 45,800 shares during the last quarter. 26.61% of the stock is owned by institutional investors.

Hydrofarm Holdings Group Stock Performance

HYFM stock opened at $0.58 on Thursday. The firm has a market cap of $26.76 million, a PE ratio of -0.41 and a beta of 1.91. The company has a current ratio of 3.24, a quick ratio of 1.41 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average price is $0.65 and its two-hundred day moving average price is $0.64. Hydrofarm Holdings Group has a 1-year low of $0.43 and a 1-year high of $1.20.

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.