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

Hudson Technologies, Inc. (NASDAQ:HDSN) has received an average rating of “Hold” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $8.8750.

A number of equities analysts have issued reports on HDSN shares. Weiss Ratings cut shares of Hudson Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. Canaccord Genuity Group dropped their price target on Hudson Technologies from $9.50 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Finally, Wall Street Zen downgraded Hudson Technologies from a “hold” rating to a “sell” rating in a report on Saturday, May 16th.

Hudson Technologies Stock Performance

Shares of NASDAQ:HDSN opened at $6.17 on Friday. The stock has a market capitalization of $259.57 million, a price-to-earnings ratio of 19.90 and a beta of 0.78. Hudson Technologies has a 1-year low of $4.64 and a 1-year high of $10.52. The company’s fifty day moving average is $5.58 and its two-hundred day moving average is $6.28.

Hudson Technologies (NASDAQ:HDSN) last posted its quarterly earnings results on Wednesday, May 6th. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). Hudson Technologies had a return on equity of 6.98% and a net margin of 5.66%.The business had revenue of $60.15 million during the quarter, compared to the consensus estimate of $57.15 million. Sell-side analysts expect that Hudson Technologies will post 0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeffrey R. Feeler purchased 5,100 shares of Hudson Technologies stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $4.92 per share, with a total value of $25,092.00. Following the completion of the acquisition, the director owned 9,165 shares in the company, valued at $45,091.80. The trade was a 125.46% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Hartree Partners, Lp purchased 4,634 shares of the stock in a transaction dated Monday, July 6th. The shares were purchased at an average price of $5.99 per share, with a total value of $27,757.66. Following the transaction, the insider directly owned 4,975,936 shares of the company’s stock, valued at approximately $29,805,856.64. The trade was a 0.09% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 802,286 shares of company stock valued at $4,669,439 over the last three months. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC increased its stake in shares of Hudson Technologies by 7.2% in the first quarter. AQR Capital Management LLC now owns 591,645 shares of the industrial products company’s stock valued at $3,650,000 after purchasing an additional 39,654 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Hudson Technologies during the first quarter worth approximately $97,000. Goldman Sachs Group Inc. boosted its position in shares of Hudson Technologies by 49.1% during the first quarter. Goldman Sachs Group Inc. now owns 245,760 shares of the industrial products company’s stock worth $1,516,000 after buying an additional 80,973 shares during the period. Invesco Ltd. grew its holdings in Hudson Technologies by 21.5% in the 2nd quarter. Invesco Ltd. now owns 71,748 shares of the industrial products company’s stock worth $583,000 after buying an additional 12,683 shares in the last quarter. Finally, Quantinno Capital Management LP increased its position in Hudson Technologies by 87.7% in the 2nd quarter. Quantinno Capital Management LP now owns 45,416 shares of the industrial products company’s stock valued at $369,000 after acquiring an additional 21,220 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

Hudson Technologies Company Profile

Hudson Technologies, Inc is a U.S.-based provider of refrigerant management and sustainability solutions, specializing in the recovery, reclamation and recycling of refrigerant gases. The company’s core business centers on collecting used refrigerants—such as CFCs, HCFCs and HFCs—from industrial, commercial and institutional customers, processing them in certified reclamation facilities and returning material that meets industry purity standards.

Headquartered in Purchase, New York, Hudson Technologies operates a network of reclamation centers across the continental United States.