Short Interest in Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) Increases By 167.4%

Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totalling 285,600 shares, an increase of 167.4% from the March 31st total of 106,800 shares. Based on an average daily volume of 287,200 shares, the days-to-cover ratio is currently 1.0 days. Currently, 8.1% of the company’s shares are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC lifted its holdings in Hydrofarm Holdings Group by 82.2% in the 3rd quarter. Jane Street Group LLC now owns 45,115 shares of the company’s stock worth $31,000 after buying an additional 20,357 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Hydrofarm Holdings Group during the fourth quarter worth approximately $33,000. Cannell Capital LLC raised its stake in Hydrofarm Holdings Group by 17.3% during the 4th quarter. Cannell Capital LLC now owns 451,372 shares of the company’s stock valued at $262,000 after acquiring an additional 66,619 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Hydrofarm Holdings Group by 5.9% during the third quarter. Geode Capital Management LLC now owns 475,634 shares of the company’s stock valued at $328,000 after purchasing an additional 26,350 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Hydrofarm Holdings Group by 4.8% during the fourth quarter. Renaissance Technologies LLC now owns 789,970 shares of the company’s stock valued at $458,000 after purchasing an additional 36,370 shares in the last quarter. 26.61% of the stock is currently owned by hedge funds and other institutional investors.

Hydrofarm Holdings Group Trading Up 2.0 %

HYFM stock traded up $0.05 during midday trading on Monday, reaching $2.50. 8,908 shares of the company’s stock traded hands, compared to its average volume of 87,016. The business has a 50-day moving average price of $3.08 and a two-hundred day moving average price of $5.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.24 and a quick ratio of 1.41. Hydrofarm Holdings Group has a fifty-two week low of $1.50 and a fifty-two week high of $10.30. The company has a market capitalization of $11.63 million, a P/E ratio of -0.18 and a beta of 2.28.

About Hydrofarm Holdings Group

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.