Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM)’s stock price dropped 5.3% on Thursday . The company traded as low as $47.58 and last traded at $47.58. Approximately 7,071 shares traded hands during trading, a decline of 99% from the average daily volume of 549,025 shares. The stock had previously closed at $50.23.
HYFM has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Hydrofarm Holdings Group from $88.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, March 31st. Zacks Investment Research upgraded shares of Hydrofarm Holdings Group from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Wednesday. Finally, UBS Group initiated coverage on shares of Hydrofarm Holdings Group in a research note on Wednesday, June 23rd. They set a “buy” rating and a $66.00 price objective for the company. Seven equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus target price of $69.83.
The company has a 50 day moving average of $56.35.
About Hydrofarm Holdings Group (NASDAQ:HYFM)
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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