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

Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) saw a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 1,050,000 shares, a drop of 6.3% from the November 30th total of 1,120,000 shares. Based on an average trading volume of 134,200 shares, the days-to-cover ratio is presently 7.8 days. Currently, 2.9% of the company’s shares are short sold.

Hydrofarm Holdings Group Stock Performance

Shares of Hydrofarm Holdings Group stock opened at $0.58 on Thursday. The company has a market cap of $26.76 million, a P/E ratio of -0.41 and a beta of 1.91. The business has a 50-day moving average price of $0.65 and a two-hundred day moving average price of $0.64. The company has a current ratio of 3.24, a quick ratio of 1.41 and a debt-to-equity ratio of 0.51. Hydrofarm Holdings Group has a 1-year low of $0.43 and a 1-year high of $1.20.

Hedge Funds Weigh In On Hydrofarm Holdings Group

A number of large investors have recently modified their holdings of HYFM. Renaissance Technologies LLC grew its position in Hydrofarm Holdings Group by 6.7% in the 2nd quarter. Renaissance Technologies LLC now owns 730,600 shares of the company’s stock worth $504,000 after purchasing an additional 45,800 shares in the last quarter. XTX Topco Ltd lifted its holdings in Hydrofarm Holdings Group by 80.3% during the third 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 last quarter. Jane Street Group LLC boosted 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 during the period. Finally, Geode Capital Management LLC grew its position in shares of Hydrofarm Holdings Group by 5.9% in 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 in the last quarter. 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.