UBS Group Cuts Hydrofarm Holdings Group (NASDAQ:HYFM) Price Target to $0.65

Hydrofarm Holdings Group (NASDAQ:HYFM) had its price target decreased by equities researchers at UBS Group from $1.15 to $0.65 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential upside of 19.38% from the stock’s current price.

Separately, Stifel Nicolaus lowered their price objective on shares of Hydrofarm Holdings Group from $0.90 to $0.75 and set a “hold” rating on the stock in a research note on Monday, July 29th.

Hydrofarm Holdings Group Stock Performance

Shares of HYFM traded up $0.01 during trading hours on Wednesday, reaching $0.54. 2,977 shares of the company’s stock traded hands, compared to its average volume of 169,629. Hydrofarm Holdings Group has a twelve month low of $0.51 and a twelve month high of $1.64. The business’s fifty day simple moving average is $0.68 and its two-hundred day simple moving average is $0.82. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.15 and a quick ratio of 1.31. The firm has a market capitalization of $25.04 million, a price-to-earnings ratio of -0.41 and a beta of 1.81.

Hydrofarm Holdings Group (NASDAQ:HYFM) last announced its earnings results on Tuesday, May 14th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.01. Hydrofarm Holdings Group had a negative net margin of 27.71% and a negative return on equity of 16.55%. The firm had revenue of $54.17 million during the quarter, compared to analyst estimates of $49.00 million. During the same quarter in the prior year, the firm posted ($0.34) EPS. Analysts predict that Hydrofarm Holdings Group will post -1.09 earnings per share for the current year.

Institutional Trading of Hydrofarm Holdings Group

A number of large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Hydrofarm Holdings Group by 158.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 85,123 shares of the company’s stock valued at $92,000 after acquiring an additional 52,194 shares during the last quarter. AXS Investments LLC raised its position in shares of Hydrofarm Holdings Group by 29.6% during the fourth quarter. AXS Investments LLC now owns 544,375 shares of the company’s stock worth $499,000 after purchasing an additional 124,412 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Hydrofarm Holdings Group by 6.7% during the second quarter. Renaissance Technologies LLC now owns 730,600 shares of the company’s stock valued at $504,000 after purchasing an additional 45,800 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Hydrofarm Holdings Group in the 1st quarter valued at $1,118,000. Finally, Vanguard Group Inc. boosted its position in shares of Hydrofarm Holdings Group by 18.2% in the 1st quarter. Vanguard Group Inc. now owns 1,876,913 shares of the company’s stock valued at $2,027,000 after purchasing an additional 288,701 shares during the period. 26.61% of the stock is currently 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.