Hydrofarm Holdings Group (NASDAQ:HYFM) Shares Climb 3.2% – Here’s Why

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated 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 data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Hydrofarm Holdings Group Price Performance

The stock’s 50-day simple moving average is $1.00 and its two-hundred day simple moving average is $0.98. The firm has a market capitalization of $3.81 million, a P/E ratio of -0.01 and a beta of 2.39.

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

Hedge Funds Weigh In On Hydrofarm Holdings Group

A hedge fund recently bought a new stake in Hydrofarm Holdings Group stock. BlackRock Inc. purchased a new stake in shares of Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 50,465 shares of the company’s stock, valued at approximately $43,000. BlackRock Inc. owned about 1.06% of Hydrofarm Holdings Group as of its most recent filing with the Securities & Exchange Commission. 26.61% of the stock is currently owned by hedge funds and other institutional investors.

Hydrofarm Holdings Group Company Profile

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.