Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) Sees Large Growth in Short Interest

Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) was the target 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 short-interest ratio is presently 1.0 days. Currently, 8.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC raised its holdings in Hydrofarm Holdings Group by 4.8% in the 4th quarter. Renaissance Technologies LLC now owns 789,970 shares of the company’s stock valued at $458,000 after buying an additional 36,370 shares during the period. Geode Capital Management LLC lifted its stake in Hydrofarm Holdings Group by 5.9% during the third quarter. Geode Capital Management LLC now owns 475,634 shares of the company’s stock worth $328,000 after purchasing an additional 26,350 shares during the last quarter. Cannell Capital LLC boosted its stake in Hydrofarm Holdings Group by 17.3% in the fourth 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. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Hydrofarm Holdings Group in the 4th quarter valued at $33,000. Finally, Jane Street Group LLC increased its stake in shares of Hydrofarm Holdings Group by 82.2% during the third quarter. Jane Street Group LLC now owns 45,115 shares of the company’s stock worth $31,000 after acquiring an additional 20,357 shares during the period. Institutional investors and hedge funds own 26.61% of the company’s stock.

Hydrofarm Holdings Group Stock Performance

Shares of HYFM traded up $0.05 during trading hours on Monday, hitting $2.50. The stock had a trading volume of 8,908 shares, compared to its average volume of 87,016. 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 debt-to-equity ratio of 0.51, a quick ratio of 1.41 and a current ratio of 3.24. The firm has a 50-day moving average price of $3.08 and a 200 day moving average price of $5.24. The firm has a market capitalization of $11.63 million, a price-to-earnings ratio of -0.18 and a beta of 2.28.

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.