Hydrofarm Holdings Group (NASDAQ: HYFM) recently received a number of ratings updates from brokerages and research firms:
- 5/11/2022 – Hydrofarm Holdings Group was downgraded by analysts at UBS Group AG from a “buy” rating to a “neutral” rating. They now have a $8.00 price target on the stock, down previously from $26.00.
- 5/11/2022 – Hydrofarm Holdings Group was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating. They now have a $8.00 price target on the stock, down previously from $13.00.
- 5/11/2022 – Hydrofarm Holdings Group had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $36.00 to $18.00.
- 4/28/2022 – Hydrofarm Holdings Group was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Hydrofarm Holdings Group Inc. is a distributor and manufacturer of hydroponics equipment and supplies for controlled environment agriculture. Hydrofarm Holdings Group Inc. is based in PETALUMA, Calif. “
- 3/28/2022 – Hydrofarm Holdings Group had its price target lowered by analysts at Truist Financial Co. from $50.00 to $30.00.
HYFM opened at $8.04 on Monday. Hydrofarm Holdings Group, Inc. has a twelve month low of $6.00 and a twelve month high of $63.49. The company has a 50-day simple moving average of $12.62 and a 200 day simple moving average of $21.60. The stock has a market capitalization of $360.69 million, a price-to-earnings ratio of -22.97 and a beta of 1.20.
Hydrofarm Holdings Group (NASDAQ:HYFM – Get Rating) last posted its quarterly earnings data on Tuesday, March 1st. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.10). The company had revenue of $110.41 million for the quarter, compared to analyst estimates of $106.40 million. During the same period last year, the company earned ($0.31) earnings per share. Sell-side analysts anticipate that Hydrofarm Holdings Group, Inc. will post 0.33 EPS for the current fiscal year.
In other Hydrofarm Holdings Group news, CEO William Douglas Toler bought 16,000 shares of the stock in a transaction on Friday, March 4th. The stock was purchased at an average price of $14.67 per share, with a total value of $234,720.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Terence Fitch sold 13,100 shares of the business’s stock in a transaction dated Tuesday, March 15th. The stock was sold at an average price of $13.38, for a total value of $175,278.00. The disclosure for this sale can be found here. Corporate insiders own 3.30% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in HYFM. Royal Bank of Canada increased its stake in shares of Hydrofarm Holdings Group by 126.6% in the second quarter. Royal Bank of Canada now owns 2,499 shares of the company’s stock valued at $148,000 after buying an additional 1,396 shares during the period. Morgan Stanley increased its stake in shares of Hydrofarm Holdings Group by 965.9% in the second quarter. Morgan Stanley now owns 208,028 shares of the company’s stock valued at $12,297,000 after buying an additional 188,511 shares during the period. New York State Common Retirement Fund increased its stake in shares of Hydrofarm Holdings Group by 109.0% in the third quarter. New York State Common Retirement Fund now owns 23,166 shares of the company’s stock valued at $877,000 after buying an additional 12,084 shares during the period. Raymond James & Associates increased its stake in shares of Hydrofarm Holdings Group by 111.1% in the third quarter. Raymond James & Associates now owns 17,031 shares of the company’s stock valued at $645,000 after buying an additional 8,962 shares during the period. Finally, Advisor Group Holdings Inc. increased its position in Hydrofarm Holdings Group by 83.5% during the 3rd quarter. Advisor Group Holdings Inc. now owns 2,676 shares of the company’s stock valued at $102,000 after purchasing an additional 1,218 shares during the period. 63.20% of the stock is owned by institutional investors.
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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