Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) Sees Significant Drop in Short Interest

Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) was the recipient of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 93,700 shares, a drop of 33.9% from the February 13th total of 141,800 shares. Based on an average trading volume of 18,800 shares, the days-to-cover ratio is currently 5.0 days. Approximately 2.6% of the company’s shares are sold short.

Hydrofarm Holdings Group Trading Down 0.9 %

Shares of Hydrofarm Holdings Group stock traded down $0.03 during trading on Friday, hitting $3.42. The stock had a trading volume of 22,829 shares, compared to its average volume of 21,152. The firm’s fifty day simple moving average is $5.59 and its 200-day simple moving average is $6.16. The stock has a market cap of $15.78 million, a PE ratio of -0.24 and a beta of 2.02. 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 12 month low of $3.19 and a 12 month high of $12.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its stake in Hydrofarm Holdings Group by 4.8% in the 4th quarter. Renaissance Technologies LLC now owns 789,970 shares of the company’s stock worth $458,000 after buying an additional 36,370 shares during the period. Cannell Capital LLC increased its stake in Hydrofarm Holdings Group by 17.3% in the 4th quarter. Cannell Capital LLC now owns 451,372 shares of the company’s stock worth $262,000 after buying an additional 66,619 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Hydrofarm Holdings Group in the 4th quarter worth about $33,000. Geode Capital Management LLC increased its position in Hydrofarm Holdings Group by 5.9% during the 3rd 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, XTX Topco Ltd increased its position in Hydrofarm Holdings Group by 80.3% during the 3rd quarter. XTX Topco Ltd now owns 42,982 shares of the company’s stock valued at $30,000 after purchasing an additional 19,147 shares during the period. Hedge funds and other institutional investors own 26.61% of the company’s stock.

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.