Hudson Technologies, Inc. (NASDAQ:HDSN) Receives Average Recommendation of “Hold” from Brokerages

Hudson Technologies, Inc. (NASDAQ:HDSN) has earned an average recommendation of “Hold” from the five brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $8.62.

Several equities research analysts have weighed in on the stock. Canaccord Genuity Group lowered their target price on shares of Hudson Technologies from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Weiss Ratings downgraded Hudson Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th.

Hudson Technologies Stock Performance

Shares of Hudson Technologies stock opened at $5.22 on Thursday. The company has a market capitalization of $219.71 million, a PE ratio of 26.10 and a beta of 0.83. The company has a 50-day simple moving average of $5.48 and a two-hundred day simple moving average of $5.69. Hudson Technologies has a one year low of $4.64 and a one year high of $9.65.

Hudson Technologies (NASDAQ:HDSN) last released its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). Hudson Technologies had a net margin of 3.51% and a return on equity of 4.95%. The firm had revenue of $78.35 million during the quarter, compared to the consensus estimate of $74.20 million. On average, equities analysts predict that Hudson Technologies will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hudson Technologies news, major shareholder Hartree Partners, Lp bought 118,549 shares of the company’s stock in a transaction that occurred on Thursday, September 24th. The shares were purchased at an average cost of $5.10 per share, for a total transaction of $604,599.90. Following the purchase, the insider directly owned 5,348,517 shares in the company, valued at $27,277,436.70. This represents a 2.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders acquired 371,981 shares of company stock worth $2,044,139. 1.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Hudson Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC boosted its holdings in Hudson Technologies by 154.5% in the second quarter. Squarepoint Ops LLC now owns 66,220 shares of the industrial products company’s stock worth $380,000 after acquiring an additional 40,202 shares in the last quarter. Kerrisdale Advisers LLC increased its holdings in shares of Hudson Technologies by 420.6% during the second quarter. Kerrisdale Advisers LLC now owns 299,976 shares of the industrial products company’s stock valued at $1,722,000 after acquiring an additional 242,354 shares in the last quarter. Ancora Advisors LLC acquired a new position in shares of Hudson Technologies during the second quarter valued at about $1,741,000. Empowered Funds LLC purchased a new position in shares of Hudson Technologies in the 2nd quarter valued at approximately $1,182,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Hudson Technologies in the 2nd quarter valued at approximately $296,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

About Hudson Technologies

Hudson Technologies, Inc is an environmental services company focused on refrigerant management and the development of solutions that support the transition away from ozone-depleting and high-global-warming-potential refrigerants. The company serves commercial, industrial, and refrigeration markets, helping customers manage refrigerants throughout their life cycle.

Its principal activities include the reclamation, recycling, and sale of used and recovered refrigerants; the distribution of virgin and reclaimed refrigerant products; and refrigerant management services.