Empowered Funds LLC Takes Position in Hudson Technologies, Inc. $HDSN

Empowered Funds LLC bought a new position in shares of Hudson Technologies, Inc. (NASDAQ:HDSN) during the second quarter, Holdings Channel.com reports. The firm bought 205,878 shares of the industrial products company’s stock, valued at approximately $1,182,000.

A number of other large investors also recently bought and sold shares of HDSN. BlackRock Inc. purchased a new position in shares of Hudson Technologies during the second quarter valued at approximately $16,303,000. Westerly Capital Management LLC boosted its stake in Hudson Technologies by 63.3% in the 2nd quarter. Westerly Capital Management LLC now owns 2,000,000 shares of the industrial products company’s stock worth $16,240,000 after purchasing an additional 775,000 shares in the last quarter. Segall Bryant & Hamill LLC grew its position in Hudson Technologies by 248.4% during the 1st quarter. Segall Bryant & Hamill LLC now owns 628,341 shares of the industrial products company’s stock valued at $3,695,000 after purchasing an additional 447,987 shares during the last quarter. Marshall Wace LLP grew its position in Hudson Technologies by 270.4% during the 4th quarter. Marshall Wace LLP now owns 465,130 shares of the industrial products company’s stock valued at $3,186,000 after purchasing an additional 339,543 shares during the last quarter. Finally, JB Capital Partners LP bought a new stake in Hudson Technologies during the 2nd quarter valued at about $1,757,588. 71.34% of the stock is owned by hedge funds and other institutional investors.

Hudson Technologies Stock Up 1.9%

Shares of Hudson Technologies stock opened at $5.35 on Friday. The company has a market cap of $225.18 million, a price-to-earnings ratio of 26.75 and a beta of 0.77. The company’s 50 day moving average is $5.86 and its 200 day moving average is $5.92. Hudson Technologies, Inc. has a twelve month low of $4.64 and a twelve month high of $10.52.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of Hudson Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Canaccord Genuity Group decreased their price objective on shares of Hudson Technologies from $9.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Finally, Wall Street Zen cut 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 given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.62.

Insider Activity at Hudson Technologies

In other news, major shareholder Hartree Partners, Lp bought 5,317 shares of the stock in a transaction on Wednesday, September 2nd. The shares were bought at an average price of $5.10 per share, with a total value of $27,116.70. Following the completion of the acquisition, the insider owned 5,205,317 shares in the company, valued at $26,547,116.70. The trade was a 0.10% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders acquired a total of 998,217 shares of company stock valued at $5,822,138 over the last three months. Insiders own 1.90% 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.