Hf Foods Group Inc. (NASDAQ:HFFG) Sees Large Decline in Short Interest

Key Points

• Short interest in HF Foods Group plunged 71.5% in June to 323,207 shares, or about 0.6% of the float, suggesting bearish bets on the stock fell sharply.
• The stock recently traded at $1.64, near its 52-week low of $1.38 and below its 50-day and 200-day moving averages, reflecting weak recent performance.
• HF Foods Group’s latest earnings matched estimates, and analysts remain mixed with a consensus Hold rating and an average price target of $5.50.

Hf Foods Group Inc. (NASDAQ:HFFG - Get Free Report) was the recipient of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totaling 323,207 shares, a decrease of 71.5% from the June 15th total of 1,135,223 shares. Approximately 0.6% of the company's stock are short sold. Based on an average daily volume of 654,796 shares, the short-interest ratio is currently 0.5 days.

Hedge Funds Weigh In On Hf Foods Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC grew its holdings in shares of Hf Foods Group by 12.1% during the first quarter. Empowered Funds LLC now owns 90,495 shares of the company's stock valued at $167,000 after purchasing an additional 9,782 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Hf Foods Group by 93.6% in the 1st quarter. Renaissance Technologies LLC now owns 127,600 shares of the company's stock worth $236,000 after purchasing an additional 61,700 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Hf Foods Group by 8.1% in the 1st quarter. Bank of New York Mellon Corp now owns 113,596 shares of the company's stock worth $210,000 after purchasing an additional 8,500 shares during the last quarter. Busey Bank bought a new stake in shares of Hf Foods Group in the 1st quarter worth approximately $47,000. Finally, North Star Investment Management Corp. boosted its position in Hf Foods Group by 1,564.3% during the 1st quarter. North Star Investment Management Corp. now owns 466,000 shares of the company's stock valued at $862,000 after purchasing an additional 438,000 shares during the period. 24.02% of the stock is currently owned by institutional investors and hedge funds.

Hf Foods Group Stock Performance

HFFG traded down $0.08 during trading hours on Friday, hitting $1.64. 110,067 shares of the stock were exchanged, compared to its average volume of 400,946. The stock has a 50-day simple moving average of $1.86 and a 200-day simple moving average of $1.93. Hf Foods Group has a 12 month low of $1.38 and a 12 month high of $3.87. The stock has a market cap of $87.69 million, a price-to-earnings ratio of -2.41, a price-to-earnings-growth ratio of 0.45 and a beta of 0.59. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.11 and a quick ratio of 0.49.

Hf Foods Group (NASDAQ:HFFG - Get Free Report) last issued its earnings results on Monday, May 11th. The company reported $0.06 earnings per share for the quarter, hitting analysts' consensus estimates of $0.06. Hf Foods Group had a negative net margin of 2.90% and a positive return on equity of 6.94%. The company had revenue of $312.00 million for the quarter, compared to analysts' expectations of $307.36 million. Analysts anticipate that Hf Foods Group will post 0.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on HFFG shares. Weiss Ratings downgraded Hf Foods Group from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday, July 2nd. Alliance Global Partners initiated coverage on Hf Foods Group in a research note on Thursday, April 16th. They set a "buy" rating and a $5.00 target price for the company. Wall Street Zen downgraded shares of Hf Foods Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 21st. Finally, Roth Capital restated a "buy" rating on shares of Hf Foods Group in a research note on Wednesday, April 29th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Hf Foods Group has a consensus rating of "Hold" and a consensus price target of $5.50.

About Hf Foods Group

HF Foods Group, Inc, together with its subsidiaries, manufactures, imports and distributes a variety of ethnic and specialty food products primarily for retail and foodservice customers in the United States. The company focuses on value‐added fresh and frozen offerings that cater to growing consumer interest in Hispanic and other global cuisines. Its vertically integrated operations include in‐house manufacturing, procurement of specialty ingredients, and third‐party distribution partnerships.

The company's product portfolio spans a broad range of categories, including fresh and frozen tamales, enchiladas, empanadas, tortillas and quesadillas, as well as shelf‐stable salsas, sauces, dips, spreads and snack items.

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