Hydrofarm Holdings Group (NASDAQ:HYFM) Shares Climb 3.2% – Still a Buy?

Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) traded up 3.2% on Monday. The stock traded as high as $0.8597 and last traded at $0.8007. 144,696 shares traded hands during trading, an increase of 114% from the average session volume of 67,567 shares. The stock had previously closed at $0.7760.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Hydrofarm Holdings Group in a report on Monday, September 21st. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, Hydrofarm Holdings Group currently has an average rating of “Sell”.

Hydrofarm Holdings Group Trading Up 3.2%

The stock has a market cap of $3.81 million, a P/E ratio of -0.01 and a beta of 2.39. The stock’s fifty day moving average price is $1.00 and its 200 day moving average price is $0.98.

Hydrofarm Holdings Group (NASDAQ:HYFM) last posted its quarterly earnings results on Friday, August 14th. The company reported ($2.23) EPS for the quarter, missing the consensus estimate of ($0.89) by ($1.34). The business had revenue of $23.21 million for the quarter, compared to analysts’ expectations of $58.20 million. Hydrofarm Holdings Group had a negative return on equity of 500.33% and a negative net margin of 267.20%.

Institutional Trading of Hydrofarm Holdings Group

An institutional investor recently bought a new stake in Hydrofarm Holdings Group stock. BlackRock Inc. purchased a new position in Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,465 shares of the company’s stock, valued at approximately $43,000. BlackRock Inc. owned approximately 1.06% of Hydrofarm Holdings Group at the end of the most recent reporting period. Institutional investors and hedge funds own 26.61% of the company’s stock.

About Hydrofarm Holdings Group

Hydrofarm Holdings Group, Inc is a manufacturer and distributor of hydroponic equipment and supplies for controlled-environment agriculture. The company serves commercial and home growers, specialty retailers, garden centers, and e-commerce customers with products used to cultivate plants indoors and in greenhouses.

Its product portfolio includes grow lighting, environmental control equipment, hydroponic systems, irrigation and water-management products, growing media, nutrients, propagation supplies, and other cultivation accessories.