Hydrofarm Holdings Group (NASDAQ:HYFM) Shares Down 5.3%

Shares of Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) traded down 5.3% during trading on Thursday . The company traded as low as $47.58 and last traded at $47.58. 7,071 shares traded hands during trading, a decline of 99% from the average session volume of 549,025 shares. The stock had previously closed at $50.23.

A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of Hydrofarm Holdings Group from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Hydrofarm Holdings Group from $88.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, March 31st. Finally, UBS Group assumed coverage on shares of Hydrofarm Holdings Group in a research note on Wednesday, June 23rd. They set a “buy” rating and a $66.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus target price of $69.83.

The stock has a fifty day moving average of $56.35.

A number of institutional investors have recently bought and sold shares of the stock. Citigroup Inc. bought a new stake in Hydrofarm Holdings Group during the 1st quarter worth approximately $38,000. Van ECK Associates Corp bought a new position in shares of Hydrofarm Holdings Group in the 1st quarter worth $53,000. CoreFirst Bank & Trust bought a new position in shares of Hydrofarm Holdings Group in the 1st quarter worth $54,000. Lindbrook Capital LLC bought a new position in shares of Hydrofarm Holdings Group in the 1st quarter worth $60,000. Finally, Royal Bank of Canada bought a new position in shares of Hydrofarm Holdings Group in the 1st quarter worth $67,000. 22.54% of the stock is currently owned by institutional investors and hedge funds.

About Hydrofarm Holdings Group (NASDAQ:HYFM)

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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