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Texas Capital Bank Wealth Management Services Inc. increases its investment in Hydrofarm Holdings Group, Inc. to $1.79 million.

Texas Capital Bank Wealth Management Services Inc. increased its position in Hydrofarm Holdings Group, Inc. (NASDAQ: HYFM), as stated in the most recent filing that the company has made with the Securities and Exchange Commission. This information is available in the filing that was made. The investment fund purchased 920,000 shares of the company’s stock at approximately $1,785,000. The most recent document that Texas Capital Bank Wealth Management Services Inc. submitted to the SEC revealed that the company held 2.04% of Hydrofarm Holdings Group.

In the most recent few months, several other institutional investors have modified the percentage of HYFM shares they own in their respective portfolios. The amount of stock in Hydrofarm Holdings Group that Mirae Asset Global Investments Co. Ltd. owned as of the end of the first quarter increased by 0.7% thanks to this company’s investment. After acquiring an additional 1,626 shares during the most recent quarter, Mirae Asset Global Investments Co. Ltd. now holds 233,387 shares in its portfolio. The current price of a share of the company’s stock on the market is $3,536,000. Rhumbline Advisers increased its holdings in Hydrofarm Holdings Group by 8.0% over the year’s first three months. Following the purchase of 2,940 additional shares throughout the period, Rhumbline Advisers now holds 39,628 shares of the company’s stock, which have a combined value of $600,000. These shares were acquired during the period in question. Blair William & Co. IL grew its ownership stake in Hydrofarm Holdings Group by 38.0% during the first three months of 2018. Since the beginning of the most recent quarter, Blair William & Co. IL has purchased an additional 3,184 shares of the company’s stock, bringing the total number of shares directly owned by the company to 11,568. These shares have a value of $175,000. Wealth Effects LLC successfully increased the proportion of Hydrofarm Holdings Group that it owns by 42.8% over the second quarter. Over time, Wealth Effects LLC was able to purchase an additional 4,850 shares of the company’s stock, bringing the total number of shares that it directly holds in the company to 16,175, with a value of $56,000. This brought the total number of shares that it directly holds in the business to 16,175. During the second quarter, the Swiss National Bank increased the amount of stock in Hydrofarm Holdings Group, which is owned by 7.8%. This brings us to our last point. The Swiss National Bank now has 68,100 shares of the company, and the total value of those shares is $237,000. This was made possible due to the acquisition of 4,900 additional shares during the most recent fiscal quarter. Now, hedge funds and other institutional investors own 47.37% of the company’s stock.

On Friday, the NASDAQ HYFM rose by $0.02, finishing the day at $1.58. The normal volume of trades for the company is 912,885 shares, but only 1,565 were traded today. This is a significant drop in volume. The price-to-earnings ratio for the company is -0.27, and its beta value is 2.23. The company’s current value, as measured by its market capitalization, is $71.14 million. The company’s moving average over the previous 50 days is $2.02, and the moving average over the previous 200 days is $2.62. During the previous year, the share price of Hydrofarm Holdings Group, Inc. ranged from a low of $1.18 to a high of $22 at various points. There is a debt-to-equity ratio of 0.31, a current ratio of 3.83, and a quick ratio of 1.02.

The results of Hydrofarm Holdings Group, which trades under the ticker symbol NASDAQ: HYFM, were detailed in a report made available to the public on November 9th. The company reported $0.33 per share, which is $0.11 higher than the average prediction of $0.44 per share. The net margin of the company, which came in at 66.39%, and the return on equity, which came in at 6.55%, were both in the red for Hydrofarm Holdings Group. The revenue for the quarter came in significantly higher than the consensus expectation of $65.98 million, which came in at $74.16 million. Equity research analysts forecast that Hydrofarm Holdings Group, Inc. will report a loss of -1.26 cents per share in earnings for the current financial year.

In a separate report released on Thursday, November 10th, Truist Financial announced that the price objective they had set for shares of Hydrofarm Holdings Group had been reduced from $10.00 to $5.00. The announcement was made about the price objective that they had set for the shares. The stock has been assigned a rating of “Hold” by four of the five different financial experts, while “buy” has been assigned by the remaining expert. The consensus recommendation among financial analysts is currently “Hold,” and the average price target they have established for the company is $11.83. This data was collected from the website Bloomberg.com.

Hydrofarm Holdings Group, Inc. and its subsidiaries and affiliates are engaged in the manufacturing and retailing of supplies and machinery for controlled environment agriculture in the countries of the United States of America and Canada (CEA). The company’s primary focus is on the distribution of CEA equipment and supplies, including but not limited to grow light systems, heating, ventilation, and air conditioning (HVAC) systems, humidity and carbon dioxide sensors and controllers, water pumps, heaters, chillers, and a chiller. In addition, it provides agricultural lighting systems, indoor climate control equipment, hydroponics, and nutrient solutions, as well as plant additives, all of which can be utilized to grow, farm, and cultivate cannabis, flowers, fruits, plants, vegetables, grains, and herbs within a controlled environment.

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