Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) Given Consensus Rating of “Hold” by Analysts
Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM – Get Rating) has received an average rating of “Hold” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating. The average 1-year target price among analysts that have covered the stock in the last year is $9.80.
Several research firms have issued reports on HYFM. Truist Financial lowered their target price on shares of Hydrofarm Holdings Group from $10.00 to $5.00 in a research note on Thursday, November 10th. JPMorgan Chase & Co. cut shares of Hydrofarm Holdings Group from an “overweight” rating to a “neutral” rating in a research note on Wednesday, August 3rd.
Hedge Funds Weigh In On Hydrofarm Holdings Group
Several institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp grew its holdings in shares of Hydrofarm Holdings Group by 2.4% during the 3rd quarter. State Street Corp now owns 1,459,624 shares of the company’s stock valued at $2,832,000 after purchasing an additional 34,495 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of Hydrofarm Holdings Group by 1,340.2% during the 3rd quarter. Two Sigma Advisers LP now owns 293,800 shares of the company’s stock valued at $570,000 after purchasing an additional 273,400 shares during the last quarter. Two Sigma Investments LP grew its holdings in shares of Hydrofarm Holdings Group by 25.3% during the 3rd quarter. Two Sigma Investments LP now owns 625,542 shares of the company’s stock valued at $1,214,000 after purchasing an additional 126,326 shares during the last quarter. Prentice Capital Management LP bought a new position in shares of Hydrofarm Holdings Group during the 3rd quarter valued at $198,000. Finally, ETF Managers Group LLC grew its holdings in shares of Hydrofarm Holdings Group by 75.4% during the 3rd quarter. ETF Managers Group LLC now owns 2,286,569 shares of the company’s stock valued at $4,436,000 after purchasing an additional 983,039 shares during the last quarter. Institutional investors own 53.88% of the company’s stock.
Hydrofarm Holdings Group Stock Performance
Shares of HYFM stock opened at $2.68 on Thursday. The stock has a market capitalization of $121.06 million, a P/E ratio of -0.46 and a beta of 2.13. The company has a current ratio of 3.83, a quick ratio of 1.02 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $2.41 and its 200 day moving average is $3.70. Hydrofarm Holdings Group has a 12 month low of $1.88 and a 12 month high of $37.04.
Hydrofarm Holdings Group Company Profile
Hydrofarm Holdings Group, Inc, together with its subsidiaries, engages in the manufacture and distribution of controlled environment agriculture (CEA) equipment and supplies in the United States and Canada. The company offers agricultural lighting devices, indoor climate control equipment, hydroponics and nutrients, and plant additives used to grow, farm, and cultivate cannabis, flowers, fruits, plants, vegetables, grains, and herbs in controlled environment; and distributes CEA equipment and supplies, which include grow light systems; heating, ventilation, and air conditioning systems; humidity and carbon dioxide monitors and controllers; water pumps, heaters, chillers, and filters; nutrient and fertilizer delivery systems; and various growing media made from soil, rock wool or coconut fiber.
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