Canaccord Genuity Group Cuts Hudson Technologies (NASDAQ:HDSN) Price Target to $9.50

Hudson Technologies (NASDAQ:HDSN) had its price target dropped by research analysts at Canaccord Genuity Group from $10.00 to $9.50 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Canaccord Genuity Group’s price objective indicates a potential upside of 54.98% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Roth Mkm reduced their target price on Hudson Technologies from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday. Weiss Ratings downgraded shares of Hudson Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Wall Street Zen upgraded shares of Hudson Technologies from a “hold” rating to a “buy” rating in a report on Sunday, November 16th. B. Riley Financial decreased their price objective on shares of Hudson Technologies from $10.50 to $9.50 and set a “buy” rating for the company in a research note on Thursday. Finally, Craig Hallum downgraded shares of Hudson Technologies from a “buy” rating to a “hold” rating and set a $9.00 target price on the stock. in a research note on Thursday, November 6th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $9.00.

Hudson Technologies Stock Performance

NASDAQ HDSN traded down $0.22 during trading hours on Friday, hitting $6.13. 414,683 shares of the company’s stock were exchanged, compared to its average volume of 254,387. The business’s 50 day moving average is $7.20 and its 200-day moving average is $8.13. Hudson Technologies has a 12-month low of $5.11 and a 12-month high of $10.52. The firm has a market capitalization of $263.59 million, a P/E ratio of 17.03 and a beta of 0.92.

Hudson Technologies (NASDAQ:HDSN) last announced its quarterly earnings data on Wednesday, March 4th. The industrial products company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.04). Hudson Technologies had a return on equity of 7.78% and a net margin of 6.76%.The company had revenue of $44.41 million for the quarter, compared to analysts’ expectations of $38.12 million. As a group, equities research analysts anticipate that Hudson Technologies will post 0.55 EPS for the current fiscal year.

Institutional Trading of Hudson Technologies

Several institutional investors have recently added to or reduced their stakes in HDSN. State of Alaska Department of Revenue bought a new stake in Hudson Technologies during the fourth quarter worth approximately $28,000. Nkcfo LLC acquired a new stake in shares of Hudson Technologies during the 3rd quarter valued at $47,000. Quarry LP boosted its stake in shares of Hudson Technologies by 51.9% during the 3rd quarter. Quarry LP now owns 5,281 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 1,805 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of Hudson Technologies in the 4th quarter worth $62,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Hudson Technologies by 177.6% during the second quarter. Tower Research Capital LLC TRC now owns 8,715 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 5,576 shares during the period. Institutional investors own 71.34% of the company’s stock.

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.