Scopus Asset Management L.P. trimmed its holdings in shares of Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) by 26.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,967 shares of the company’s stock after selling 22,074 shares during the period. Scopus Asset Management L.P.’s holdings in Hydrofarm Holdings Group were worth $3,738,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the stock. BlackRock Inc. raised its position in Hydrofarm Holdings Group by 1,139.4% during the first quarter. BlackRock Inc. now owns 674,641 shares of the company’s stock valued at $40,695,000 after buying an additional 620,210 shares during the period. Lord Abbett & CO. LLC increased its position in Hydrofarm Holdings Group by 965.1% in the 1st quarter. Lord Abbett & CO. LLC now owns 540,496 shares of the company’s stock worth $32,603,000 after purchasing an additional 489,750 shares during the last quarter. Pura Vida Investments LLC increased its position in Hydrofarm Holdings Group by 19.6% in the 1st quarter. Pura Vida Investments LLC now owns 448,324 shares of the company’s stock worth $27,043,000 after purchasing an additional 73,324 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new position in Hydrofarm Holdings Group in the 4th quarter worth about $18,503,000. Finally, Janus Henderson Group PLC acquired a new position in Hydrofarm Holdings Group in the 4th quarter worth about $17,078,000. 22.54% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have weighed in on the company. Zacks Investment Research raised Hydrofarm Holdings Group from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft dropped their target price on Hydrofarm Holdings Group from $88.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, March 31st. Finally, UBS Group assumed coverage on Hydrofarm Holdings Group in a research report on Wednesday, June 23rd. They issued a “buy” rating and a $66.00 target price on the stock. Seven analysts have rated the stock with a buy rating, Hydrofarm Holdings Group presently has an average rating of “Buy” and a consensus target price of $69.83.
Hydrofarm Holdings Group Profile
Hydrofarm Holdings Group, Inc, together with its subsidiaries, engages in the manufacture and distribution of controlled environment agriculture (CEA) equipment and supplies in the United States and Canada. The company offers agricultural lighting devices, indoor climate control equipment, hydroponics and nutrients, and plant additives used to grow, farm, and cultivate cannabis, flowers, fruits, plants, vegetables, grains, and herbs in controlled environment; and distributes CEA equipment and supplies, which include grow light systems; heating, ventilation, and air conditioning systems; humidity and carbon dioxide monitors and controllers; water pumps, heaters, chillers, and filters; nutrient and fertilizer delivery systems; and various growing media made from soil, rock wool or coconut fiber.
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