Russell Investments Group Ltd. trimmed its stake in shares of Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) by 10.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,018 shares of the company’s stock after selling 1,484 shares during the quarter. Russell Investments Group Ltd.’s holdings in Hydrofarm Holdings Group were worth $768,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Citigroup Inc. purchased a new position in shares of Hydrofarm Holdings Group in the 1st quarter valued at about $38,000. Van ECK Associates Corp acquired a new stake in Hydrofarm Holdings Group in the first quarter valued at approximately $53,000. CoreFirst Bank & Trust purchased a new position in Hydrofarm Holdings Group in the first quarter worth approximately $54,000. Royal Bank of Canada acquired a new position in Hydrofarm Holdings Group during the 1st quarter worth approximately $67,000. Finally, Advisor Group Holdings Inc. increased its position in shares of Hydrofarm Holdings Group by 710.0% in the 2nd quarter. Advisor Group Holdings Inc. now owns 1,458 shares of the company’s stock valued at $86,000 after purchasing an additional 1,278 shares during the last quarter. Institutional investors own 46.65% of the company’s stock.
A number of equities analysts recently commented on HYFM shares. Zacks Investment Research downgraded shares of Hydrofarm Holdings Group from a “buy” rating to a “hold” rating in a research note on Thursday, September 9th. UBS Group started coverage on Hydrofarm Holdings Group in a research report on Wednesday, June 23rd. They set a “buy” rating and a $66.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $70.83.
Shares of HYFM opened at $41.22 on Wednesday. Hydrofarm Holdings Group, Inc. has a 1-year low of $40.38 and a 1-year high of $95.48. The stock has a market cap of $1.81 billion and a PE ratio of -274.80. The firm has a fifty day moving average price of $48.56 and a 200 day moving average price of $55.29.
Hydrofarm Holdings Group 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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