Zacks Investment Research Downgrades Hudson Technologies Inc. (HDSN) to Hold
Hudson Technologies Inc. (NASDAQ:HDSN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Hudson Technologies, Inc. is a leading provider of innovative solutions to recurring problems within the refrigeration industry. Hudson’s proprietary RefrigerantSide Services increase operating efficiency and energy savings, and remove moisture, oils and other contaminants frequently found in the refrigeration circuits of large comfort cooling and process refrigeration systems. Performed at a customer’s site as an integral part of an effective scheduled maintenance program or in response to emergencies, RefrigerantSide Services offer significant savings to customers due to their ability to be completed rapidly and at higher purity levels, and can be utilized while the customer’s system continues to operate. In addition, the Company sells refrigerants and provides traditional reclamation services to the commercial and industrial air conditioning and refrigeration markets. “
Several other analysts have also recently weighed in on HDSN. Roth Capital reissued a “buy” rating and issued a $6.50 price objective on shares of Hudson Technologies in a research note on Sunday, July 17th. B. Riley restated a “buy” rating and issued a $7.00 target price on shares of Hudson Technologies in a report on Tuesday, July 19th.
Hudson Technologies (NASDAQ:HDSN) opened at 6.40 on Wednesday. The firm’s 50-day moving average price is $6.08 and its 200-day moving average price is $4.32. Hudson Technologies has a 12-month low of $2.64 and a 12-month high of $6.79. The company has a market cap of $215.12 million, a PE ratio of 27.83 and a beta of 1.19.
Hudson Technologies (NASDAQ:HDSN) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.03. Hudson Technologies had a net margin of 8.54% and a return on equity of 14.90%. The company had revenue of $34.60 million for the quarter, compared to analysts’ expectations of $34.24 million. Equities research analysts forecast that Hudson Technologies will post $0.29 earnings per share for the current fiscal year.
In other news, Director Richard Parrillo sold 21,200 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $4.93, for a total transaction of $104,516.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Nat Krishnamurti sold 5,218 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $6.07, for a total transaction of $31,673.26. Following the transaction, the chief financial officer now owns 14,000 shares in the company, valued at approximately $84,980. The disclosure for this sale can be found here. 24.40% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. B. Riley Financial Inc. bought a new position in shares of Hudson Technologies during the second quarter valued at $134,000. Coe Capital Management LLC bought a new position in shares of Hudson Technologies during the second quarter valued at $194,000. United Services Automobile Association raised its position in shares of Hudson Technologies by 255.7% in the second quarter. United Services Automobile Association now owns 93,894 shares of the company’s stock valued at $338,000 after buying an additional 67,500 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Hudson Technologies by 12.8% in the second quarter. BlackRock Fund Advisors now owns 72,995 shares of the company’s stock valued at $263,000 after buying an additional 8,265 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Hudson Technologies by 0.7% in the second quarter. Vanguard Group Inc. now owns 751,974 shares of the company’s stock valued at $2,707,000 after buying an additional 5,133 shares in the last quarter. Hedge funds and other institutional investors own 57.34% of the company’s stock.
Hudson Technologies Company Profile
Hudson Technologies, Inc is a refrigerant services company. The Company provides solutions to recurring problems within the refrigeration industry. Its products and services include refrigerant and industrial gas sales; refrigerant management services, which consist of reclamation of refrigerants, and RefrigerantSide services, which consist of system decontamination.
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