Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) Shares Sold by Scopus Asset Management L.P.

Scopus Asset Management L.P. reduced its position in Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) by 26.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,967 shares of the company’s stock after selling 22,074 shares during the period. Scopus Asset Management L.P. owned approximately 0.16% of Hydrofarm Holdings Group worth $3,738,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Citigroup Inc. acquired a new position in Hydrofarm Holdings Group during the 1st quarter worth approximately $38,000. Van ECK Associates Corp acquired a new position in Hydrofarm Holdings Group during the 1st quarter worth approximately $53,000. CoreFirst Bank & Trust acquired a new position in Hydrofarm Holdings Group during the 1st quarter worth approximately $54,000. Lindbrook Capital LLC acquired a new position in Hydrofarm Holdings Group during the 1st quarter worth approximately $60,000. Finally, Royal Bank of Canada acquired a new position in Hydrofarm Holdings Group during the 1st quarter worth approximately $67,000. 22.54% of the stock is currently owned by institutional investors and hedge funds.

HYFM stock traded down $2.09 during midday trading on Thursday, hitting $48.14. 14,722 shares of the company’s stock were exchanged, compared to its average volume of 549,025. Hydrofarm Holdings Group, Inc. has a 12-month low of $41.59 and a 12-month high of $95.48. The business has a 50 day moving average of $56.35. The firm has a market capitalization of $1.92 billion and a PE ratio of -320.00.

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

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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Institutional Ownership by Quarter for Hydrofarm Holdings Group (NASDAQ:HYFM)

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