Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 2.79MM shares of Hydrofarm Holdings Group Inc (HYFM). This represents 6.2% of the company.
In their previous filing dated February 4, 2022 they reported 2.41MM shares and 5.40% of the company, an increase in shares of 15.95% and an increase in total ownership of 0.80% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 90.91% Upside
As of February 1, 2023, the average one-year price target for Hydrofarm Holdings Group is $3.57. The forecasts range from a low of $1.52 to a high of $5.25. The average price target represents an increase of 90.91% from its latest reported closing price of $1.87.
The projected annual revenue for Hydrofarm Holdings Group is $309MM, a decrease of 21.55%. The projected annual EPS is $-0.75.
Fund Sentiment
There are 254 funds or institutions reporting positions in Hydrofarm Holdings Group. This is a decrease of 33 owner(s) or 11.50%.
Average portfolio weight of all funds dedicated to US:HYFM is 0.0408%, a decrease of 33.3104%. Total shares owned by institutions decreased in the last three months by 6.13% to 29,793K shares.
What are large shareholders doing?
Etf Managers Group holds 2,286,569 shares representing 5.06% ownership of the company. In it's prior filing, the firm reported owning 1,303,530 shares, representing an increase of 42.99%. The firm increased its portfolio allocation in HYFM by 1.69% over the last quarter.
MJ - ETFMG Alternative Harvest ETF holds 1,994,258 shares representing 4.41% ownership of the company. In it's prior filing, the firm reported owning 1,285,342 shares, representing an increase of 35.55%. The firm increased its portfolio allocation in HYFM by 2.91% over the last quarter.
Massachusetts Financial Services holds 1,633,938 shares representing 3.62% ownership of the company. In it's prior filing, the firm reported owning 1,521,843 shares, representing an increase of 6.86%. The firm decreased its portfolio allocation in HYFM by 35.09% over the last quarter.
MSOS - AdvisorShares Pure US Cannabis ETF holds 1,364,873 shares representing 3.02% ownership of the company. In it's prior filing, the firm reported owning 1,553,276 shares, representing a decrease of 13.80%. The firm decreased its portfolio allocation in HYFM by 49.57% over the last quarter.
AdvisorShares Investments holds 1,364,873 shares representing 3.02% ownership of the company. In it's prior filing, the firm reported owning 1,553,276 shares, representing a decrease of 13.80%. The firm decreased its portfolio allocation in HYFM by 52.48% over the last quarter.
Hydrofarm Holdings Group Background Information
(This description is provided by the company.)
Hydrofarm is a leading distributor and manufacturer of controlled environment agriculture equipment and supplies, including high-intensity grow lights, climate control solutions, and growing media, as well as a broad portfolio of innovative and proprietary branded products. For more than 40 years, Hydrofarm has helped growers in the U.S. and Canadian markets make growing easier and more productive. The Company’s mission is to empower growers, farmers and cultivators with products that enable greater quality, efficiency, consistency and speed in their grow projects.
This story originally appeared on Fintel.
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