Canaccord Genuity Group Lowers Hudson Technologies (NASDAQ:HDSN) to Hold

Hudson Technologies (NASDAQ:HDSN) was downgraded by analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, MarketBeat reports. They presently have a $10.00 target price on the industrial products company’s stock, down from their previous target price of $15.00. Canaccord Genuity Group’s target price points to a potential upside of 9.53% from the stock’s previous close.

Several other analysts have also issued reports on the stock. B. Riley dropped their target price on shares of Hudson Technologies from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, March 7th. Roth Mkm dropped their price target on Hudson Technologies from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.40.

Hudson Technologies Stock Up 0.3 %

Shares of NASDAQ:HDSN traded up $0.03 during trading on Thursday, reaching $9.13. 1,091,323 shares of the company’s stock traded hands, compared to its average volume of 653,188. The firm has a market cap of $415.51 million, a PE ratio of 9.32, a P/E/G ratio of 0.41 and a beta of 1.00. Hudson Technologies has a fifty-two week low of $7.21 and a fifty-two week high of $15.24. The company has a 50-day simple moving average of $11.48 and a 200-day simple moving average of $12.50.

Hudson Technologies (NASDAQ:HDSN) last posted its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Hudson Technologies had a return on equity of 22.00% and a net margin of 16.70%. The business had revenue of $65.25 million during the quarter, compared to analysts’ expectations of $63.04 million. During the same period in the previous year, the business earned $0.33 earnings per share. On average, equities research analysts forecast that Hudson Technologies will post 0.74 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of HDSN. Robertson Stephens Wealth Management LLC raised its stake in Hudson Technologies by 4.1% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 81,581 shares of the industrial products company’s stock worth $1,101,000 after purchasing an additional 3,191 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Hudson Technologies by 417.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,954 shares of the industrial products company’s stock worth $94,000 after buying an additional 5,610 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Hudson Technologies by 37.3% in the first quarter. BNP Paribas Financial Markets now owns 21,704 shares of the industrial products company’s stock valued at $239,000 after acquiring an additional 5,894 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Hudson Technologies by 2.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 355,368 shares of the industrial products company’s stock worth $4,726,000 after purchasing an additional 7,175 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in Hudson Technologies by 17.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 61,104 shares of the industrial products company’s stock valued at $824,000 after buying an additional 9,297 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

About Hudson Technologies

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.