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

Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) was the recipient of a significant drop in short interest in March. As of March 31st, there was short interest totalling 1,390,000 shares, a drop of 11.5% from the March 15th total of 1,570,000 shares. Based on an average trading volume of 190,000 shares, the days-to-cover ratio is currently 7.3 days.

Institutional Investors Weigh In On Hydrofarm Holdings Group

Institutional investors have recently modified their holdings of the business. Alyeska Investment Group L.P. boosted its holdings in shares of Hydrofarm Holdings Group by 472.1% during the 1st quarter. Alyeska Investment Group L.P. now owns 912,818 shares of the company’s stock valued at $13,829,000 after acquiring an additional 753,262 shares during the last quarter. State Street Corp boosted its holdings in Hydrofarm Holdings Group by 104.8% in the second quarter. State Street Corp now owns 1,425,129 shares of the company’s stock worth $4,959,000 after purchasing an additional 729,145 shares during the last quarter. Renaissance Technologies LLC grew its position in Hydrofarm Holdings Group by 424.0% in the 2nd quarter. Renaissance Technologies LLC now owns 717,900 shares of the company’s stock worth $2,498,000 after purchasing an additional 580,900 shares during the period. T. Rowe Price Investment Management Inc. grew its position in Hydrofarm Holdings Group by 231.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 773,466 shares of the company’s stock worth $1,199,000 after purchasing an additional 540,109 shares during the period. Finally, Walleye Capital LLC purchased a new stake in Hydrofarm Holdings Group during the 2nd quarter valued at $1,178,000. 26.61% of the stock is owned by hedge funds and other institutional investors.

Hydrofarm Holdings Group Stock Up 1.3 %

Shares of HYFM stock opened at $0.96 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.40 and a quick ratio of 1.40. Hydrofarm Holdings Group has a one year low of $0.67 and a one year high of $1.70. The company’s 50-day moving average is $0.92 and its 200 day moving average is $0.95.

Hydrofarm Holdings Group (NASDAQ:HYFM) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.06). The firm had revenue of $47.18 million for the quarter, compared to the consensus estimate of $51.50 million. Hydrofarm Holdings Group had a negative net margin of 28.60% and a negative return on equity of 16.76%. Sell-side analysts forecast that Hydrofarm Holdings Group will post -1.08 earnings per share for the current fiscal year.

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.