Canaccord Genuity Group Issues Pessimistic Forecast for Hudson Technologies (NASDAQ:HDSN) Stock Price

Hudson Technologies (NASDAQ:HDSN) had its price objective lowered by equities researchers at Canaccord Genuity Group from $10.00 to $9.50 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Canaccord Genuity Group’s target price suggests a potential upside of 54.98% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Roth Mkm dropped their target price on Hudson Technologies from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday. Weiss Ratings lowered shares of Hudson Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Wall Street Zen raised shares of Hudson Technologies from a “hold” rating to a “buy” rating in a research note on Sunday, November 16th. B. Riley Financial dropped their price target on shares of Hudson Technologies from $10.50 to $9.50 and set a “buy” rating on the stock in a research note on Thursday. Finally, Craig Hallum lowered Hudson Technologies from a “buy” rating to a “hold” rating and set a $9.00 price objective for the company. in a report on Thursday, November 6th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hudson Technologies has an average rating of “Hold” and an average target price of $9.00.

Hudson Technologies Price Performance

Hudson Technologies stock traded down $0.22 during midday trading on Friday, reaching $6.13. The stock had a trading volume of 414,683 shares, compared to its average volume of 254,387. The firm’s fifty day simple moving average is $7.20 and its two-hundred day simple moving average is $8.13. Hudson Technologies has a twelve month low of $5.11 and a twelve month high of $10.52. The firm has a market cap of $263.59 million, a price-to-earnings ratio of 17.03 and a beta of 0.92.

Hudson Technologies (NASDAQ:HDSN) last issued its earnings results on Wednesday, March 4th. The industrial products company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The business had revenue of $44.41 million during the quarter, compared to analyst estimates of $38.12 million. Hudson Technologies had a return on equity of 7.78% and a net margin of 6.76%. As a group, sell-side analysts predict that Hudson Technologies will post 0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Hudson Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Westerly Capital Management LLC boosted its holdings in Hudson Technologies by 63.3% during the second quarter. Westerly Capital Management LLC now owns 2,000,000 shares of the industrial products company’s stock worth $16,240,000 after buying an additional 775,000 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Hudson Technologies by 102.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,111,803 shares of the industrial products company’s stock valued at $9,028,000 after acquiring an additional 563,899 shares during the period. Oaktree Capital Management LP bought a new position in Hudson Technologies during the 2nd quarter worth approximately $4,569,000. Marshall Wace LLP grew its holdings in Hudson Technologies by 270.4% during the fourth quarter. Marshall Wace LLP now owns 465,130 shares of the industrial products company’s stock valued at $3,186,000 after purchasing an additional 339,543 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Hudson Technologies by 53,751.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 269,256 shares of the industrial products company’s stock valued at $1,844,000 after purchasing an additional 268,756 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

Hudson Technologies Company Profile

Hudson Technologies, Inc is a U.S.-based provider of refrigerant management and sustainability solutions, specializing in the recovery, reclamation and recycling of refrigerant gases. The company’s core business centers on collecting used refrigerants—such as CFCs, HCFCs and HFCs—from industrial, commercial and institutional customers, processing them in certified reclamation facilities and returning material that meets industry purity standards.

Headquartered in Purchase, New York, Hudson Technologies operates a network of reclamation centers across the continental United States.