Hudson Technologies, Inc. (NASDAQ:HDSN) Receives $8.88 Average PT from Brokerages

Shares of Hudson Technologies, Inc. (NASDAQ:HDSN) have been given a consensus rating of “Hold” by the six analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $8.8750.

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

Insider Activity

In other news, Director Jeffrey R. Feeler acquired 5,100 shares of Hudson Technologies stock in a transaction on Thursday, May 14th. The stock was bought at an average cost of $4.92 per share, with a total value of $25,092.00. Following the completion of the purchase, the director owned 9,165 shares of the company’s stock, valued at $45,091.80. This represents a 125.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Hartree Partners, Lp bought 288,111 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was purchased at an average price of $5.88 per share, with a total value of $1,694,092.68. Following the completion of the acquisition, the insider owned 4,700,000 shares of the company’s stock, valued at approximately $27,636,000. This trade represents a 6.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 802,286 shares of company stock worth $4,669,439. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hudson Technologies

Several hedge funds have recently made changes to their positions in HDSN. State of Alaska Department of Revenue purchased a new position in Hudson Technologies during the 4th quarter worth approximately $28,000. Quarry LP raised its stake in Hudson Technologies by 51.9% during the 3rd quarter. Quarry LP now owns 5,281 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 1,805 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in shares of Hudson Technologies in the fourth quarter valued at $62,000. Tower Research Capital LLC TRC lifted its holdings in shares of Hudson Technologies by 177.6% in the second 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 in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Hudson Technologies by 88.3% in the third quarter. BNP Paribas Financial Markets now owns 7,530 shares of the industrial products company’s stock worth $75,000 after buying an additional 3,532 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Hudson Technologies Stock Up 3.2%

HDSN stock opened at $6.19 on Friday. The stock has a market cap of $260.41 million, a PE ratio of 19.97 and a beta of 0.78. The firm’s 50-day simple moving average is $5.65 and its 200 day simple moving average is $6.26. Hudson Technologies has a fifty-two week low of $4.64 and a fifty-two week high of $10.52.

Hudson Technologies (NASDAQ:HDSN) last posted its 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 net margin of 5.66% and a return on equity of 6.98%. The firm had revenue of $60.15 million for the quarter, compared to analyst estimates of $57.15 million. Equities analysts forecast that Hudson Technologies will post 0.34 EPS for the current fiscal year.

About Hudson Technologies

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.