Hydrofarm Holdings Group (NASDAQ:HYFM) Trading 4.7% Higher – Should You Buy?

Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) shares traded up 4.7% during mid-day trading on Thursday . The company traded as high as $0.66 and last traded at $0.64. 267,350 shares were traded during trading, an increase of 52% from the average session volume of 175,675 shares. The stock had previously closed at $0.61.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on HYFM shares. Stifel Nicolaus lowered their price objective on Hydrofarm Holdings Group from $0.90 to $0.75 and set a “hold” rating on the stock in a research note on Monday, July 29th. UBS Group dropped their price objective on Hydrofarm Holdings Group from $1.15 to $0.65 and set a “neutral” rating for the company in a report on Wednesday, August 14th.

Hydrofarm Holdings Group Trading Up 13.6 %

The company has a quick ratio of 1.41, a current ratio of 3.24 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $33.49 million, a P/E ratio of -0.51 and a beta of 1.83. The company has a fifty day simple moving average of $0.64 and a two-hundred day simple moving average of $0.67.

Insiders Place Their Bets

In other Hydrofarm Holdings Group news, CEO William Douglas Toler bought 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was acquired at an average price of $0.50 per share, with a total value of $50,000.00. Following the completion of the transaction, the chief executive officer now owns 1,875,815 shares in the company, valued at approximately $937,907.50. This trade represents a 5.63 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HYFM. Tidal Investments LLC acquired a new stake in shares of Hydrofarm Holdings Group during the first quarter worth $1,118,000. Vanguard Group Inc. raised its stake in Hydrofarm Holdings Group by 18.2% in the 1st quarter. Vanguard Group Inc. now owns 1,876,913 shares of the company’s stock worth $2,027,000 after purchasing an additional 288,701 shares in the last quarter. Renaissance Technologies LLC raised its stake in Hydrofarm Holdings Group by 6.7% in the 2nd quarter. Renaissance Technologies LLC now owns 730,600 shares of the company’s stock worth $504,000 after purchasing an additional 45,800 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Hydrofarm Holdings Group by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 475,634 shares of the company’s stock valued at $328,000 after purchasing an additional 26,350 shares during the period. Finally, Jane Street Group LLC grew its position in shares of Hydrofarm Holdings Group by 82.2% during the 3rd quarter. Jane Street Group LLC now owns 45,115 shares of the company’s stock worth $31,000 after purchasing an additional 20,357 shares in the last quarter. 26.61% of the stock is currently owned by institutional investors.

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.