Hydrofarm Holdings Group (NASDAQ:HYFM) PT Lowered to $18.00 at Deutsche Bank Aktiengesellschaft

Hydrofarm Holdings Group (NASDAQ:HYFMGet Rating) had its price objective cut by research analysts at Deutsche Bank Aktiengesellschaft from $36.00 to $18.00 in a research note issued on Wednesday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 135.91% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on HYFM. Zacks Investment Research raised Hydrofarm Holdings Group from a “sell” rating to a “hold” rating in a report on Thursday, April 28th. Wells Fargo & Company lowered their price target 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. UBS Group cut Hydrofarm Holdings Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $26.00 to $8.00 in a report on Wednesday. Truist Financial reduced their target price on shares of Hydrofarm Holdings Group from $50.00 to $30.00 in a research note on Monday, March 28th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Hydrofarm Holdings Group from $27.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, March 2nd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $26.29.

HYFM opened at $7.63 on Wednesday. Hydrofarm Holdings Group has a 1 year low of $7.48 and a 1 year high of $63.49. The stock’s 50 day simple moving average is $13.05 and its 200-day simple moving average is $22.26.

Hydrofarm Holdings Group (NASDAQ:HYFMGet Rating) last announced its quarterly earnings data on Tuesday, March 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.10). The firm had revenue of $110.41 million for the quarter, compared to the consensus estimate of $106.40 million. During the same period last year, the company posted ($0.31) EPS. As a group, research analysts predict that Hydrofarm Holdings Group will post 0.46 earnings per share for the current year.

In other news, CEO William Douglas Toler acquired 16,000 shares of the firm’s stock in a transaction on Friday, March 4th. The shares were purchased at an average cost of $14.67 per share, for a total transaction of $234,720.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Terence Fitch sold 13,100 shares of the business’s stock in a transaction on 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. Company insiders own 3.30% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wasatch Advisors Inc. lifted its stake in Hydrofarm Holdings Group by 16.6% in the fourth quarter. Wasatch Advisors Inc. now owns 3,031,914 shares of the company’s stock valued at $85,773,000 after buying an additional 431,229 shares during the period. BlackRock Inc. raised its position in shares of Hydrofarm Holdings Group by 238.2% during the third quarter. BlackRock Inc. now owns 2,611,362 shares of the company’s stock worth $98,840,000 after purchasing an additional 1,839,225 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Hydrofarm Holdings Group by 55.1% during the 3rd quarter. Alliancebernstein L.P. now owns 2,219,732 shares of the company’s stock valued at $84,017,000 after purchasing an additional 788,155 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Hydrofarm Holdings Group by 15.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,009,213 shares of the company’s stock valued at $76,049,000 after purchasing an additional 274,048 shares during the period. Finally, AdvisorShares Investments LLC increased its stake in Hydrofarm Holdings Group by 1.5% during the 1st quarter. AdvisorShares Investments LLC now owns 1,654,160 shares of the company’s stock worth $25,061,000 after purchasing an additional 23,772 shares in the last quarter. 63.20% of the stock is owned by institutional investors and hedge funds.

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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