Hudson Technologies, Inc. (NASDAQ:HDSN) Short Interest Update

Hudson Technologies, Inc. (NASDAQ:HDSN) was the recipient of a large drop in short interest during the month of August. As of August 15th, there was short interest totaling 1,200,000 shares, a drop of 21.1% from the July 31st total of 1,520,000 shares. Approximately 3.1% of the shares of the company are short sold. Based on an average daily volume of 421,200 shares, the days-to-cover ratio is currently 2.8 days. Based on an average daily volume of 421,200 shares, the days-to-cover ratio is currently 2.8 days. Approximately 3.1% of the shares of the company are short sold.

Analyst Ratings Changes

A number of research firms have weighed in on HDSN. Canaccord Genuity Group upgraded Hudson Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $6.75 to $10.50 in a research note on Thursday, July 31st. B. Riley raised shares of Hudson Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the company from $7.50 to $9.00 in a research note on Monday, June 16th. Finally, Wall Street Zen upgraded Hudson Technologies from a “buy” rating to a “strong-buy” rating in a report on Monday. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.63.

Institutional Investors Weigh In On Hudson Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hartree Partners LP bought a new stake in shares of Hudson Technologies during the 1st quarter valued at about $22,046,000. D. E. Shaw & Co. Inc. lifted its holdings in shares of Hudson Technologies by 282.6% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,345,553 shares of the industrial products company’s stock worth $7,508,000 after purchasing an additional 993,833 shares during the last quarter. Westerly Capital Management LLC grew its holdings in Hudson Technologies by 63.3% in the 2nd quarter. Westerly Capital Management LLC now owns 2,000,000 shares of the industrial products company’s stock worth $16,240,000 after buying an additional 775,000 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Hudson Technologies by 102.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,111,803 shares of the industrial products company’s stock worth $9,028,000 after buying an additional 563,899 shares in the last quarter. Finally, Oaktree Capital Management LP bought a new position in Hudson Technologies in the 2nd quarter worth approximately $4,569,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Hudson Technologies Trading Down 2.5%

HDSN stock opened at $10.05 on Wednesday. Hudson Technologies has a twelve month low of $5.11 and a twelve month high of $10.45. The company has a market capitalization of $438.88 million, a P/E ratio of 25.13 and a beta of 0.97. The firm has a 50 day simple moving average of $9.19 and a 200-day simple moving average of $7.49.

Hudson Technologies (NASDAQ:HDSN) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.08. Hudson Technologies had a net margin of 8.08% and a return on equity of 7.26%. The business had revenue of $72.85 million during the quarter, compared to the consensus estimate of $71.67 million. On average, research analysts predict that Hudson Technologies will post 0.55 EPS for the current year.

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.