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

Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) was the target of a significant growth in short interest in August. As of August 15th, there was short interest totalling 1,350,000 shares, a growth of 15.4% from the July 31st total of 1,170,000 shares. Based on an average daily volume of 121,100 shares, the short-interest ratio is presently 11.1 days.

Insider Activity

In related news, CEO William Douglas Toler purchased 100,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was acquired at an average cost of $0.50 per share, for a total transaction of $50,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,875,815 shares of the company’s stock, valued at $937,907.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC boosted its position in shares of 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 buying an additional 45,800 shares during the period. Tidal Investments LLC acquired a new stake in shares of Hydrofarm Holdings Group in the first quarter valued at $1,118,000. Vanguard Group Inc. raised its stake 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 acquiring an additional 288,701 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Hydrofarm Holdings Group by 158.5% in the first 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 raised its stake in shares of Hydrofarm Holdings Group by 29.6% in the fourth 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. 26.61% of the stock is currently owned by hedge funds and other institutional investors.

Hydrofarm Holdings Group Trading Down 5.7 %

Hydrofarm Holdings Group stock traded down $0.03 during mid-day trading on Monday, hitting $0.44. The company’s stock had a trading volume of 314,500 shares, compared to its average volume of 168,690. The firm has a market capitalization of $20.02 million, a PE ratio of -0.33 and a beta of 1.81. Hydrofarm Holdings Group has a 1 year low of $0.43 and a 1 year high of $1.64. The company has a current ratio of 3.15, a quick ratio of 1.49 and a debt-to-equity ratio of 0.48. The stock’s fifty day moving average is $0.62 and its two-hundred day moving average is $0.78.

Hydrofarm Holdings Group (NASDAQ:HYFM) last released its quarterly 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). Hydrofarm Holdings Group had a negative return on equity of 18.46% and a negative net margin of 33.83%. The firm had revenue of $54.79 million for the quarter, compared to analysts’ expectations of $53.00 million. On average, analysts anticipate that Hydrofarm Holdings Group will post -1.09 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HYFM. Stifel Nicolaus dropped their price target on Hydrofarm Holdings Group from $0.90 to $0.75 and set a “hold” rating for the company in a research report on Monday, July 29th. UBS Group lowered their price objective 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.

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.