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

Key Points

• Short interest fell 13.9% in March to 1,530,378 shares (3.1% of float), leaving a days-to-cover ratio of about 5.7 based on average volume.
• HF Foods missed quarterly EPS estimates (reported $0.05 vs. $0.10 expected) with a negative net margin; the stock trades around $2.15 (market cap ~$113.8M) and carries a consensus "Hold" rating with an average price target of $5.50.
• Institutional activity has risen, notably Russell Investments adding ~346,010 shares, and about 24.02% of the company is now owned by hedge funds and other institutional investors.

Hf Foods Group Inc. (NASDAQ:HFFG - Get Free Report) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totaling 1,530,378 shares, a drop of 13.9% from the March 15th total of 1,777,429 shares. Based on an average trading volume of 270,786 shares, the days-to-cover ratio is currently 5.7 days. Currently, 3.1% of the shares of the company are short sold.

Hf Foods Group Price Performance

NASDAQ:HFFG traded up $0.03 during trading hours on Friday, reaching $2.15. 28,873 shares of the company traded hands, compared to its average volume of 195,001. The firm's 50-day moving average is $1.86 and its 200-day moving average is $2.17. The stock has a market cap of $113.78 million, a P/E ratio of -2.94, a P/E/G ratio of 0.59 and a beta of 0.48. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.18 and a quick ratio of 0.53. Hf Foods Group has a 1-year low of $1.38 and a 1-year high of $4.45.

Hf Foods Group (NASDAQ:HFFG - Get Free Report) last released its quarterly earnings results on Monday, March 16th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.05). Hf Foods Group had a positive return on equity of 6.83% and a negative net margin of 3.16%.The company had revenue of $308.02 million during the quarter, compared to analyst estimates of $308.37 million. Equities research analysts expect that Hf Foods Group will post 0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hf Foods Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Empowered Funds LLC boosted its stake in Hf Foods Group by 10.1% in the 4th quarter. Empowered Funds LLC now owns 80,713 shares of the company's stock worth $174,000 after buying an additional 7,384 shares during the last quarter. Bridgeway Capital Management LLC boosted its position in shares of Hf Foods Group by 6.6% in the fourth quarter. Bridgeway Capital Management LLC now owns 119,539 shares of the company's stock worth $257,000 after acquiring an additional 7,384 shares during the last quarter. Abel Hall LLC acquired a new stake in shares of Hf Foods Group in the fourth quarter worth approximately $26,000. Russell Investments Group Ltd. grew its holdings in Hf Foods Group by 9,703.0% in the fourth quarter. Russell Investments Group Ltd. now owns 349,576 shares of the company's stock valued at $752,000 after purchasing an additional 346,010 shares during the period. Finally, Rothschild Wealth LLC acquired a new position in Hf Foods Group during the fourth quarter worth approximately $456,000. 24.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on HFFG shares. Weiss Ratings restated a "sell (d-)" rating on shares of Hf Foods Group in a research note on Monday, December 29th. Wall Street Zen downgraded Hf Foods Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 21st. Alliance Global Partners began coverage on Hf Foods Group in a report on Thursday. They issued a "buy" rating and a $5.00 target price on the stock. Finally, Roth Mkm dropped their price target on Hf Foods Group from $7.00 to $6.00 and set a "buy" rating for the company in a research report on Wednesday, March 18th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Hf Foods Group has an average rating of "Hold" and an average 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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