Hudson Technologies, Inc. (NASDAQ:HDSN) Receives Average Rating of “Hold” from Analysts

Shares of Hudson Technologies, Inc. (NASDAQ:HDSN) have received an average rating of “Hold” from the six research firms that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $8.8750.

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

Hudson Technologies Trading Up 0.2%

Shares of Hudson Technologies stock opened at $6.34 on Friday. The stock has a 50 day moving average of $5.71 and a 200 day moving average of $6.26. Hudson Technologies has a 12 month low of $4.64 and a 12 month high of $10.52. The firm has a market cap of $266.72 million, a PE ratio of 20.45 and a beta of 0.78.

Hudson Technologies (NASDAQ:HDSN) last released its quarterly earnings results on Wednesday, May 6th. The industrial products company reported $0.01 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $57.15 million. As a group, equities research analysts forecast that Hudson Technologies will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Hudson Technologies

Institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue purchased a new position in shares of Hudson Technologies in the 4th quarter worth approximately $28,000. Quarry LP raised its holdings 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 buying an additional 1,805 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in Hudson Technologies during the 4th quarter valued at $62,000. Tower Research Capital LLC TRC lifted its position in 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 worth $71,000 after buying an additional 5,576 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in 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 last quarter. 71.34% of the stock is owned by institutional investors.

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.