Hydrofarm Holdings Group (NASDAQ:HYFM) Trading Down 4.1% – Here’s What Happened

Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) was down 4.1% on Wednesday . The stock traded as low as $1.88 and last traded at $1.88. Approximately 5,991 shares were traded during trading, a decline of 63% from the average daily volume of 16,142 shares. The stock had previously closed at $1.96.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Hydrofarm Holdings Group in a report on Monday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Hydrofarm Holdings Group presently has an average rating of “Sell”.

Hydrofarm Holdings Group Stock Performance

The stock has a 50-day moving average of $2.47 and a 200 day moving average of $3.39. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.08 and a quick ratio of 0.81. The stock has a market capitalization of $8.78 million, a price-to-earnings ratio of -0.13 and a beta of 2.31.

Hydrofarm Holdings Group (NASDAQ:HYFM) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($3.51) EPS for the quarter, missing analysts’ consensus estimates of ($3.09) by ($0.42). Hydrofarm Holdings Group had a negative return on equity of 32.29% and a negative net margin of 44.49%.The company had revenue of $29.35 million for the quarter, compared to analyst estimates of $35.73 million. On average, analysts expect that Hydrofarm Holdings Group, Inc. will post -13.3 EPS for the current year.

Institutional Investors Weigh In On Hydrofarm Holdings Group

A hedge fund recently bought a new stake in Hydrofarm Holdings Group stock. Citadel Advisors LLC acquired a new stake in Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 18,079 shares of the company’s stock, valued at approximately $59,000. Citadel Advisors LLC owned about 0.39% of Hydrofarm Holdings Group at the end of the most recent reporting period. 26.61% of the stock is owned by 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.