Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) Short Interest Down 11.5% in March

Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,390,000 shares, a drop of 11.5% from the March 15th total of 1,570,000 shares. Based on an average trading volume of 190,000 shares, the days-to-cover ratio is presently 7.3 days.

Hydrofarm Holdings Group Price Performance

Shares of Hydrofarm Holdings Group stock opened at $0.91 on Tuesday. Hydrofarm Holdings Group has a twelve month low of $0.67 and a twelve month high of $1.70. The stock has a market capitalization of $41.68 million, a P/E ratio of -0.68 and a beta of 1.95. The company has a current ratio of 3.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.43. The business’s fifty day moving average price is $0.92 and its 200 day moving average price is $0.95.

Hydrofarm Holdings Group (NASDAQ:HYFM) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.06). Hydrofarm Holdings Group had a negative net margin of 28.60% and a negative return on equity of 16.76%. The company had revenue of $47.18 million during the quarter, compared to analysts’ expectations of $51.50 million. As a group, research analysts anticipate that Hydrofarm Holdings Group will post -1.08 earnings per share for the current year.

Institutional Trading of Hydrofarm Holdings Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC increased its holdings in Hydrofarm Holdings Group by 2,054.0% in the second quarter. FMR LLC now owns 7,216 shares of the company’s stock valued at $25,000 after buying an additional 6,881 shares during the last quarter. Ergoteles LLC acquired a new position in Hydrofarm Holdings Group in the second quarter valued at approximately $27,000. Point72 Hong Kong Ltd acquired a new position in Hydrofarm Holdings Group in the second quarter valued at approximately $31,000. Virtu Financial LLC acquired a new position in Hydrofarm Holdings Group in the fourth quarter valued at approximately $38,000. Finally, Prelude Capital Management LLC acquired a new position in Hydrofarm Holdings Group in the second quarter valued at approximately $44,000. 26.61% of the stock is owned by hedge funds and other 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.