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

Hydrofarm Holdings Group (NASDAQ:HYFM) had its target price reduced by UBS Group from $1.15 to $0.65 in a report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Separately, Stifel Nicolaus dropped their price objective on Hydrofarm Holdings Group from $0.90 to $0.75 and set a hold rating for the company in a report on Monday, July 29th.

Hydrofarm Holdings Group Price Performance

Shares of NASDAQ HYFM opened at $0.55 on Wednesday. The stock has a market capitalization of $25.47 million, a PE ratio of -0.42 and a beta of 1.81. 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 business has a fifty day moving average price of $0.66 and a two-hundred day moving average price of $0.82. Hydrofarm Holdings Group has a fifty-two week low of $0.51 and a fifty-two week high of $1.64.

Hedge Funds Weigh In On Hydrofarm Holdings Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC grew its position in Hydrofarm Holdings Group by 6.7% during the 2nd quarter. Renaissance Technologies LLC now owns 730,600 shares of the company’s stock worth $504,000 after acquiring an additional 45,800 shares during the last quarter. Tidal Investments LLC bought a new stake in Hydrofarm Holdings Group during the 1st quarter worth $1,118,000. Vanguard Group Inc. grew its position in Hydrofarm Holdings Group by 18.2% during the 1st quarter. Vanguard Group Inc. now owns 1,876,913 shares of the company’s stock worth $2,027,000 after acquiring an additional 288,701 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in 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 worth $92,000 after acquiring an additional 52,194 shares during the last quarter. Finally, AXS Investments LLC grew its position in Hydrofarm Holdings Group by 29.6% during the 4th quarter. AXS Investments LLC now owns 544,375 shares of the company’s stock worth $499,000 after acquiring an additional 124,412 shares during the last quarter. Institutional investors own 26.61% of the company’s stock.

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.