Hudson Technologies (NASDAQ:HDSN) Price Target Cut to $8.00 by Analysts at Canaccord Genuity Group

Hudson Technologies (NASDAQ:HDSN) had its price target trimmed by Canaccord Genuity Group from $8.75 to $8.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a hold rating on the industrial products company’s stock.

A number of other equities research analysts have also recently commented on HDSN. B. Riley cut Hudson Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $10.00 to $8.50 in a research note on Wednesday, October 30th. Craig Hallum downgraded Hudson Technologies from a “buy” rating to a “hold” rating and decreased their price target for the stock from $10.00 to $7.00 in a report on Tuesday. Finally, Roth Mkm cut Hudson Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $12.00 to $7.00 in a research note on Tuesday. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.85.

Hudson Technologies Trading Down 22.0 %

NASDAQ HDSN opened at $5.92 on Tuesday. The business’s 50-day moving average price is $7.93 and its two-hundred day moving average price is $8.58. Hudson Technologies has a 12 month low of $5.67 and a 12 month high of $15.24. The firm has a market capitalization of $269.48 million, a PE ratio of 7.69, a price-to-earnings-growth ratio of 0.42 and a beta of 1.22.

Hudson Technologies (NASDAQ:HDSN) last issued its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Hudson Technologies had a return on equity of 16.65% and a net margin of 14.00%. The firm had revenue of $61.94 million during the quarter, compared to the consensus estimate of $64.92 million. During the same period last year, the business posted $0.34 EPS. As a group, analysts forecast that Hudson Technologies will post 0.58 earnings per share for the current fiscal year.

Institutional Trading of Hudson Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Swedbank AB bought a new position in Hudson Technologies in the 1st quarter valued at $1,652,000. Russell Investments Group Ltd. grew its position in Hudson Technologies by 240,800.0% during the first quarter. Russell Investments Group Ltd. now owns 57,816 shares of the industrial products company’s stock valued at $637,000 after buying an additional 57,792 shares during the period. Sixth Street Partners Management Company L.P. grew its position in Hudson Technologies by 30.0% during the second quarter. Sixth Street Partners Management Company L.P. now owns 1,300,000 shares of the industrial products company’s stock valued at $11,427,000 after buying an additional 300,000 shares during the period. Commonwealth Equity Services LLC purchased a new stake in Hudson Technologies during the second quarter worth about $687,000. Finally, Dimensional Fund Advisors LP raised its position in Hudson Technologies by 22.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,019,067 shares of the industrial products company’s stock worth $17,747,000 after acquiring an additional 364,117 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

Hudson Technologies Company Profile

Hudson Technologies, Inc, through its subsidiary, Hudson Technologies Company, engages in the provision of solutions to recurring problems within the refrigeration industry in the United States. The company engages in the sale of refrigerant and industrial gas; provision of refrigerant management services consisting primarily of reclamation of refrigerants, re-usable cylinder refurbishment, and hydrostatic testing services; and RefrigerantSide services comprising system decontamination and recovery to remove moisture, oils, and other contaminants.