Hydrofarm Holdings Group Inc. [NASDAQ: HYFM] price plunged by -11.48 percent to reach at -$7.11. The company report on April 27, 2021 that Hydrofarm Holdings Group Announces Launch of Proposed Public Offering of Common Stock.
Hydrofarm Holdings Group, Inc. (“Hydrofarm” or the “Company”) (Nasdaq: HYFM), a leading independent distributor and manufacturer of hydroponics equipment and supplies for controlled environment agriculture, announced that it will commence an underwritten public offering of 4.0 million shares of its common stock. All shares of common stock are being offered by Hydrofarm. In connection with the offering, Hydrofarm intends to grant the underwriters a 30-day option to purchase up to approximately 600,000 additional shares of its common stock. The proposed offering is subject to market and other conditions, and there can be no assurances as to whether or when the proposed offering may be completed, or as to the actual size or terms of the proposed offering.
Hydrofarm expects to use the net proceeds from the proposed offering for acquisitions, working capital and other general corporate purposes. Additionally, Hydrofarm may use a portion of the net proceeds to acquire or invest in businesses, products, services, or technologies.
A sum of 1928576 shares traded at recent session while its average daily volume was at 447.40K shares. Hydrofarm Holdings Group Inc. shares reached a high of $56.605 and dropped to a low of $52.43 until finishing in the latest session at $54.85.
The one-year HYFM stock forecast points to a potential upside of 32.01. The average equity rating for HYFM stock is currently 1.60, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Hydrofarm Holdings Group Inc. [HYFM]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HYFM shares is $80.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HYFM stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Truist have made an estimate for Hydrofarm Holdings Group Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 04, 2021. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on January 04, 2021, representing the official price target for Hydrofarm Holdings Group Inc. stock. Previously, the target price had yet another raise to $63, while JP Morgan analysts kept a Overweight rating on HYFM stock.
The Average True Range (ATR) for Hydrofarm Holdings Group Inc. is set at 5.22, with the Price to Sales ratio for HYFM stock in the period of the last 12 months amounting to 5.70. The Price to Book ratio for the last quarter was 8.71, with the Price to Cash per share for the same quarter was set at 2.11.
HYFM Stock Performance Analysis:
Hydrofarm Holdings Group Inc. [HYFM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.88.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HYFM stock in for the last two-week period is set at 41.58, with the RSI for the last a single of trading hit 37.24, and the three-weeks RSI is set at 43.70 for Hydrofarm Holdings Group Inc. [HYFM]. The present Moving Average for the last 50 days of trading for this stock 63.55, while it was recorded at 61.47 for the last single week of trading.
Insight into Hydrofarm Holdings Group Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Hydrofarm Holdings Group Inc. [HYFM] shares currently have an operating margin of +1.50 and a Gross Margin at +18.59. Hydrofarm Holdings Group Inc.’s Net Margin is presently recorded at -2.13.
Return on Total Capital for HYFM is now 2.64, given the latest momentum, and Return on Invested Capital for the company is -4.20. Return on Equity for this stock declined to -6.01, with Return on Assets sitting at -3.15. When it comes to the capital structure of this company, Hydrofarm Holdings Group Inc. [HYFM] has a Total Debt to Total Equity ratio set at 9.51. Additionally, HYFM Total Debt to Total Capital is recorded at 8.68, with Total Debt to Total Assets ending up at 7.27.
Reflecting on the efficiency of the workforce at the company, Hydrofarm Holdings Group Inc. [HYFM] managed to generate an average of -$22,242 per employee. Receivables Turnover for the company is 15.27 with a Total Asset Turnover recorded at a value of 1.48.Hydrofarm Holdings Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 4.10.
Hydrofarm Holdings Group Inc. [HYFM] Insider Position Details
There are presently around $418 million, or 26.40% of HYFM stock, in the hands of institutional investors. The top three institutional holders of HYFM stocks are: ALLIANCEBERNSTEIN L.P. with ownership of 936,271, which is approximately New of the company’s market cap and around 6.90% of the total institutional ownership; DRIEHAUS CAPITAL MANAGEMENT LLC, holding 561,364 shares of the stock with an approximate value of $30.79 million in HYFM stocks shares; and VANGUARD GROUP INC, currently with $30.66 million in HYFM stock with ownership of nearly New of the company’s market capitalization.
Positions in Hydrofarm Holdings Group Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 75 institutional holders increased their position in Hydrofarm Holdings Group Inc. [NASDAQ:HYFM] by around 7,609,376 shares. Additionally, 2 investors decreased positions by around 308 shares, while 0 investors held positions by with 18,066 shares. The mentioned changes placed institutional holdings at 7,627,750 shares, according to the latest SEC report filing. HYFM stock had 75 new institutional investments in for a total of 7,609,376 shares, while 1 institutional investors sold positions of 168 shares during the same period.