Hydrofarm Holdings Group (HYFM) Scheduled to Post Earnings on Tuesday

Hydrofarm Holdings Group (NASDAQ:HYFMGet Rating) will issue its quarterly earnings data after the market closes on Tuesday, May 10th. Analysts expect the company to announce earnings of ($0.07) per share for the quarter. Hydrofarm Holdings Group has set its FY 2022 guidance at EPS.Parties that wish to register for the company’s conference call can do so using this link.

Hydrofarm Holdings Group (NASDAQ:HYFMGet Rating) last released its quarterly earnings results on Tuesday, March 1st. The company reported ($0.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.10). The firm had revenue of $110.41 million during the quarter, compared to analysts’ expectations of $106.40 million. During the same period last year, the firm posted ($0.31) earnings per share. On average, analysts expect Hydrofarm Holdings Group to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

HYFM opened at $9.80 on Tuesday. Hydrofarm Holdings Group has a 12 month low of $9.18 and a 12 month high of $70.96. The stock has a fifty day moving average price of $14.30 and a 200-day moving average price of $23.29.

HYFM has been the subject of several recent research reports. Zacks Investment Research raised Hydrofarm Holdings Group from a “sell” rating to a “hold” rating in a research report on Thursday, April 28th. Truist Financial reduced their price target on Hydrofarm Holdings Group from $50.00 to $30.00 in a research report on Monday, March 28th. Wells Fargo & Company reduced their target price on Hydrofarm Holdings Group from $18.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 15th. JPMorgan Chase & Co. reduced their target price on Hydrofarm Holdings Group from $27.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Hydrofarm Holdings Group from $56.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, March 2nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $34.71.

In other news, President Terence Fitch sold 13,100 shares of the 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 sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William Douglas Toler bought 5,000 shares of the stock in a transaction dated Tuesday, March 8th. The stock was bought at an average price of $13.06 per share, for a total transaction of $65,300.00. The disclosure for this purchase can be found here. 3.30% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of HYFM. Royal Bank of Canada boosted 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 worth $148,000 after buying an additional 1,396 shares during the last quarter. Morgan Stanley boosted 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 worth $12,297,000 after buying an additional 188,511 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Hydrofarm Holdings Group in the third quarter worth about $614,000. Bank of New York Mellon Corp boosted its stake in shares of Hydrofarm Holdings Group by 295.1% in the third quarter. Bank of New York Mellon Corp now owns 121,545 shares of the company’s stock worth $4,601,000 after buying an additional 90,785 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in shares of Hydrofarm Holdings Group by 80.4% in the fourth quarter. Citigroup Inc. now owns 13,448 shares of the company’s stock worth $380,000 after buying an additional 5,995 shares during the last quarter. Hedge funds and other institutional investors own 63.20% of the company’s stock.

About Hydrofarm Holdings Group (Get Rating)

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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