Understanding the Risks of Investing in Hydrofarm Holdings Group Inc. (HYFM)


Hydrofarm Holdings Group Inc.’s filing revealed that its CEO and Chairman of the Board Toler William Douglas acquired Company’s shares for reported $15600.0 on May 16. In the deal valued at $1.04 per share,15,000 shares were bought. As a result of this transaction, Toler William Douglas now holds 1,799,328 shares worth roughly $ 2.12 million.

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Then, Toler William Douglas bought 35,000 shares, generating $38,150 in total proceeds. Upon buying the shares at $1.09, the CEO and Chairman of the Board now owns 1,784,328 shares.

Truist downgraded its Hydrofarm Holdings Group Inc. [HYFM] rating to a Hold from a a Buy in a research note published on Friday.

Price Performance Review of HYFM

On Friday, Hydrofarm Holdings Group Inc. [NASDAQ:HYFM] saw its stock fall -5.60% to $1.18. On the same session, the stock had its day’s lowest price of $1.1201, but rose to a high of $1.34. Over the last five days, the stock has gained 31.11%. Hydrofarm Holdings Group Inc. shares have fallen nearly -23.87% since the year began. Nevertheless, the stocks have fallen -65.29% over the past one year. While a 52-week high of $3.35 was reached on 02/03/23, a 52-week low of $0.67 was recorded on 06/27/23. SMA at 50 days reached $1.0169, while 200 days put it at $1.5013. A total of 0.64 million shares were traded, compared to the trading of 1.72 million shares in the previous session.

Levels Of Support And Resistance For HYFM Stock

The 24-hour chart illustrates a support level at 1.0867, which if violated will result in even more drops to 0.9935. On the upside, there is a resistance level at 1.3066. A further resistance level may holdings at 1.4333. The Relative Strength Index (RSI) on the 14-day chart is 57.48, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.1260, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 34.78%. Stochastics %K at 68.90% indicates the stock is a holding.

How much short interest is there in Hydrofarm Holdings Group Inc.?

A steep rise in short interest was recorded in Hydrofarm Holdings Group Inc. stocks on Aug 14, 2023, dropping by -0.71 million shares to a total of 2.03 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.74 million shares. There was a decline of -34.98%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.63% of the overall stock float, the days-to-cover ratio (short ratio) fell to 7.35.

Hydrofarm Holdings Group Inc. [HYFM] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 1,575,518 shares, or roughly 3.47% of the outstanding HYFM shares. In other words, the investor’s shares have fallen by -158,934 from its previous 13-F filing of 1734452.0. Additionally, Texas Capital Bank Wealth Managem increased 14.54% of its stake after which the total value it holdings stand at $1,545,019, while ETF Managers Group LLC reduced -54.70% of its stake to hold $1.3 million in the firm. Over the last quarter, Millennium Management LLC purchased 783,050 shares of Hydrofarm Holdings Group Inc., while T. Rowe Price Investment Manageme bought 0 shares. At present, BlackRock Fund Advisors is holding 649,167 shares valued at $0.76 million. Renaissance Technologies LLC owned 617,800 shares of the company at the time of its most recent 13F filing, worth $0.72 million.

According to FactSet, Hydrofarm Holdings Group Inc.’s share price will average $1.27 in the next year, based on opinions of analysts polled by the firm. This is up nearly 1.6 percent from its previous closing price of $1.25. Analysts expect Hydrofarm Holdings Group Inc. stock to reach the higher price of $1.30, while the lowest price estimate is $1.25. However, 3 analysts have rated HYFM stock as a Hold in their predictions for 2023.


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