In today’s recent session, 2.75 million shares of the Hydrofarm Holdings Group Inc. (NASDAQ:HYFM) were traded. Most recently the company’s share price was $2.72, and it changed around -$0.55 or -16.67% from the last close, which brings the market valuation of the company to $153.07M. HYFM at last check was trading at a discount to its 52-week high of $56.31, offering almost -1970.22% off that amount. The share price’s 52-week low was $2.96, which indicates that the recent value has fallen by an impressive -8.82% since then. We note from Hydrofarm Holdings Group Inc.’s average daily trading volume that its 10-day average is 0.56 million shares, with the 3-month average coming to 751.85K.
Hydrofarm Holdings Group Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.30. If we narrow it down even further, the data shows that 0 out of 7 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 3 recommended HYFM as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. Hydrofarm Holdings Group Inc. is expected to report earnings per share of $0 for the current quarter.
Hydrofarm Holdings Group Inc. (NASDAQ:HYFM) trade information
Instantly HYFM has been showing red trend so far today with a performance of -16.67% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 3.48 on Tuesday, 08/02/22 increased the stock’s daily price by 21.84%. The company’s shares are currently down -88.44% year-to-date, but still down -2.68% over the last five days. On the other hand, Hydrofarm Holdings Group Inc. (NASDAQ:HYFM) is -6.03% down in the 30-day period. We can see from the shorts that 3.0 million shares have been sold at a short interest cover period of 3.2 day(s).
The consensus price target as assigned by Wall Street analysts is $9.83, which translates to bulls needing to increase their stock price by 72.33% from its current value. Analyst projections state that HYFM is forecast to be at a low of $4.00 and a high of $18.00. In order for the stock price to hit the forecast high, the stock would need to plunge -561.76% from its current level, while the stock would need to crash -47.06% from its current level to reach the projected low.
Hydrofarm Holdings Group Inc. (HYFM) estimates and forecasts
Hydrofarm Holdings Group Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -83.32 percent over the past six months and at a -77.97% annual growth rate that is well below the industry average of 7.50%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will loss -100.00% in revenue this quarter, and will report a decrease of -64.70% in the next quarter. The year-over-year growth rate is expected to be 0.50%, up from the previous year.
Consensus estimates provided by 7 financial analysts predict the company will bring in an average of $126.52 million in revenue for the current quarter. 7 analysts expect Hydrofarm Holdings Group Inc. to make $122.61 million in revenue for the quarter ending Sep 2022. The company’s sales for the same quarters a year ago were $134.67 million and $122.86 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -6.10%. Forecasts for the next quarter put sales growth at -0.20%.
Hydrofarm Holdings Group Inc.’s next quarterly earnings report is expected to be released around March 28 and April 01.
Hydrofarm Holdings Group Inc. (NASDAQ:HYFM)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 15.89% of Hydrofarm Holdings Group Inc. shares, and 60.32% of them are in the hands of institutional investors. The stock currently has a share float of 71.72%. Hydrofarm Holdings Group Inc. stock is held by 187 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2022, it held 7.40% of the shares, which is about 3.32 million shares worth $50.29 million.
Wasatch Advisors Inc, with 7.14% or 3.21 million shares worth $48.56 million as of Mar 30, 2022, holds the second largest percentage of outstanding shares.
AdvisorShares Trust-AdvisorShares Pure US Cannabis ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jun 29, 2022. The former held 1.55 million shares worth $5.41 million, making up 3.46% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 1.09 million shares worth around $16.54 million, which represents about 2.43% of the total shares outstanding.