Hudson Technologies, Inc. (NASDAQ:HDSN) Reaches New 1-Year High After Strong Earnings
Hudson Technologies, Inc. (NASDAQ:HDSN)’s share price reached a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $9.69 and last traded at $9.65, with a volume of 5,642,500 shares changing hands. The stock had previously closed at $7.96.
The industrial products company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. The firm had revenue of $52.23 million during the quarter, compared to analysts’ expectations of $46.34 million. Hudson Technologies had a net margin of 11.56% and a return on equity of 15.21%.
HDSN has been the subject of a number of research analyst reports. TheStreet raised shares of Hudson Technologies from a “c+” rating to a “b” rating in a report on Wednesday, May 31st. Zacks Investment Research raised shares of Hudson Technologies from a “hold” rating to a “buy” rating and set a $7.50 target price for the company in a report on Tuesday, April 25th. B. Riley reaffirmed a “buy” rating and issued a $8.50 target price on shares of Hudson Technologies in a report on Wednesday. BidaskClub raised shares of Hudson Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Finally, Roth Capital set a $10.00 target price on shares of Hudson Technologies and gave the company a “buy” rating in a report on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $8.67.
Several hedge funds and other institutional investors have recently modified their holdings of the company. AXA acquired a new position in shares of Hudson Technologies during the first quarter worth $106,000. SG Americas Securities LLC acquired a new position in shares of Hudson Technologies during the second quarter worth $107,000. Airain ltd acquired a new position in shares of Hudson Technologies during the first quarter worth $118,000. Sheaff Brock Investment Advisors LLC boosted its position in shares of Hudson Technologies by 20.8% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 14,500 shares of the industrial products company’s stock worth $123,000 after buying an additional 2,500 shares during the period. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of Hudson Technologies during the first quarter worth $142,000. 76.23% of the stock is owned by institutional investors and hedge funds.
The firm has a market capitalization of $401.68 million, a price-to-earnings ratio of 27.63 and a beta of 1.12. The firm has a 50-day moving average price of $8.50 and a 200 day moving average price of $7.65.
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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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