Hudson Technologies (NASDAQ:HDSN) Price Target Cut to $10.00 by Analysts at Canaccord Genuity Group

Hudson Technologies (NASDAQ:HDSN) had its target price lowered by analysts at Canaccord Genuity Group from $10.50 to $10.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 42.96% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings restated a “hold (c)” rating on shares of Hudson Technologies in a research note on Wednesday, October 8th. Craig Hallum downgraded shares of Hudson Technologies from a “buy” rating to a “hold” rating and set a $9.00 price target for the company. in a report on Thursday. Wall Street Zen downgraded Hudson Technologies from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Zacks Research cut Hudson Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $9.33.

Hudson Technologies Stock Performance

Shares of NASDAQ HDSN traded up $0.15 during trading hours on Monday, hitting $7.00. 553,594 shares of the stock were exchanged, compared to its average volume of 418,076. The company’s fifty day simple moving average is $9.46 and its two-hundred day simple moving average is $8.59. The company has a market cap of $305.46 million, a PE ratio of 17.49 and a beta of 0.91. Hudson Technologies has a 1-year low of $5.11 and a 1-year high of $10.52.

Hudson Technologies (NASDAQ:HDSN) last issued its quarterly earnings results on Wednesday, November 5th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.06. Hudson Technologies had a return on equity of 7.26% and a net margin of 8.08%.The company had revenue of $74.01 million for the quarter, compared to analyst estimates of $72.15 million. As a group, sell-side analysts expect that Hudson Technologies will post 0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Hudson Technologies

A number of institutional investors have recently made changes to their positions in HDSN. Nkcfo LLC bought a new position in shares of Hudson Technologies during the 3rd quarter worth about $47,000. GAMMA Investing LLC lifted its position in Hudson Technologies by 30.5% in the 2nd quarter. GAMMA Investing LLC now owns 6,487 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 1,517 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Hudson Technologies by 177.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,715 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 5,576 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Hudson Technologies in the third quarter worth approximately $115,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Hudson Technologies by 10.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 12,747 shares of the industrial products company’s stock valued at $115,000 after buying an additional 1,247 shares during the last quarter. Institutional investors 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.