Hudson Technologies, Inc. (HDSN) Trading 0% Higher on Better-Than-Expected Earnings
Shares of Hudson Technologies, Inc. (NASDAQ:HDSN) rose 0% during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $6.32 and last traded at $6.32. Approximately 1,732,345 shares traded hands during trading, an increase of 86% from the average daily volume of 931,730 shares. The stock had previously closed at $6.32.
The industrial products company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The business had revenue of $24.70 million for the quarter, compared to analyst estimates of $25.00 million. Hudson Technologies had a return on equity of 12.82% and a net margin of 11.69%. The company’s revenue was down 29.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.14 earnings per share.
HDSN has been the topic of a number of research reports. Zacks Investment Research lowered Hudson Technologies from a “hold” rating to a “sell” rating in a report on Monday, July 24th. B. Riley reissued a “hold” rating and issued a $7.50 price objective on shares of Hudson Technologies in a report on Tuesday. Roth Capital set a $11.00 price objective on Hudson Technologies and gave the company a “buy” rating in a report on Thursday, October 5th. ValuEngine lowered Hudson Technologies from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, BidaskClub lowered Hudson Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $9.25.
Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in Hudson Technologies during the second quarter worth about $107,000. Sheaff Brock Investment Advisors LLC grew its holdings in Hudson Technologies by 20.8% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 14,500 shares of the industrial products company’s stock worth $123,000 after acquiring an additional 2,500 shares during the period. Gotham Asset Management LLC grew its holdings in Hudson Technologies by 25.0% during the second quarter. Gotham Asset Management LLC now owns 14,956 shares of the industrial products company’s stock worth $126,000 after acquiring an additional 2,994 shares during the period. Voya Investment Management LLC acquired a new stake in Hudson Technologies during the second quarter worth about $131,000. Finally, Optimum Investment Advisors grew its holdings in Hudson Technologies by 14.8% during the second quarter. Optimum Investment Advisors now owns 15,500 shares of the industrial products company’s stock worth $131,000 after acquiring an additional 2,000 shares during the period. 74.20% of the stock is currently owned by hedge funds and other institutional investors.
The company has a market cap of $265.69, a price-to-earnings ratio of 18.06, a P/E/G ratio of 0.72 and a beta of 1.12.
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About Hudson Technologies
Hudson Technologies, Inc is a refrigerant services company. The Company’s products and services are primarily used in commercial air conditioning, industrial processing and refrigeration systems, and include refrigerant and industrial gas sales, refrigerant management services consisting primarily of reclamation of refrigerants and RefrigerantSide Services performed at a customer’s site, consisting of system decontamination to remove moisture, oils and other contaminants.
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