JB Capital Partners LP Makes New $1.76 Million Investment in Hudson Technologies, Inc. $HDSN

JB Capital Partners LP purchased a new stake in shares of Hudson Technologies, Inc. (NASDAQ:HDSN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 306,200 shares of the industrial products company’s stock, valued at approximately $1,757,588. JB Capital Partners LP owned about 0.73% of Hudson Technologies as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Empirical Asset Management LLC bought a new position in shares of Hudson Technologies in the second quarter worth $98,000. BlackRock Inc. purchased a new position in Hudson Technologies during the second quarter valued at $16,303,000. Deutsche Bank AG bought a new position in shares of Hudson Technologies during the 2nd quarter valued at approximately $351,000. Bank of New York Mellon Corp acquired a new stake in Hudson Technologies in the second quarter valued at approximately $1,175,000. Finally, State of Wyoming purchased a new position in shares of Hudson Technologies during the 2nd quarter valued at approximately $78,000. Institutional investors own 71.34% of the company’s stock.

Insider Buying and Selling at Hudson Technologies

In other news, major shareholder Hartree Partners, Lp bought 91,166 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were acquired at an average cost of $5.50 per share, for a total transaction of $501,413.00. Following the completion of the acquisition, the insider owned 5,200,000 shares in the company, valued at approximately $28,600,000. This represents a 1.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have purchased 992,900 shares of company stock worth $5,795,021 over the last ninety days. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on HDSN shares. Canaccord Genuity Group cut their price objective on shares of Hudson Technologies from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Weiss Ratings lowered Hudson Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen cut shares of Hudson Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $8.62.

Hudson Technologies Price Performance

HDSN stock traded down $0.09 during trading on Friday, hitting $5.39. 415,604 shares of the company traded hands, compared to its average volume of 440,175. The stock’s 50-day simple moving average is $5.92 and its 200 day simple moving average is $6.00. The company has a market cap of $226.86 million, a PE ratio of 26.95 and a beta of 0.78. Hudson Technologies, Inc. has a 1 year low of $4.64 and a 1 year high of $10.52.

Hudson Technologies (NASDAQ:HDSN) last posted its earnings results on Wednesday, August 5th. The industrial products company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.06). The firm had revenue of $78.35 million during the quarter, compared to analysts’ expectations of $74.20 million. Hudson Technologies had a net margin of 3.51% and a return on equity of 4.95%. Research analysts expect that Hudson Technologies, Inc. will post 0.17 earnings per share for the current year.

Hudson Technologies 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.