Hudson Technologies (NASDAQ:HDSN) Earns “Hold” Rating from Canaccord Genuity Group

Hudson Technologies (NASDAQ:HDSN)‘s stock had its “hold” rating reissued by investment analysts at Canaccord Genuity Group in a report released on Thursday, MarketBeat.com reports. They currently have a $10.00 price target on the industrial products company’s stock, down from their previous price target of $15.00. Canaccord Genuity Group’s target price would indicate a potential upside of 2.04% from the stock’s current price.

Other analysts have also recently issued reports about the company. Canaccord Genuity Group cut Hudson Technologies from a “buy” rating to a “hold” rating and dropped their price target for the stock from $15.00 to $10.00 in a report on Thursday. Roth Mkm lowered their target price on shares of Hudson Technologies from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, B. Riley cut their price target on Hudson Technologies from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, March 7th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $12.25.

Hudson Technologies Stock Down 1.2 %

Shares of HDSN stock opened at $9.80 on Thursday. The company’s fifty day simple moving average is $11.70 and its 200-day simple moving average is $12.55. Hudson Technologies has a 12 month low of $7.21 and a 12 month high of $15.24. The firm has a market cap of $446.00 million, a PE ratio of 8.83, a P/E/G ratio of 0.34 and a beta of 1.01.

Hudson Technologies (NASDAQ:HDSN) last posted its quarterly earnings results on Wednesday, March 6th. The industrial products company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Hudson Technologies had a return on equity of 25.57% and a net margin of 18.08%. The firm had revenue of $44.86 million during the quarter, compared to the consensus estimate of $39.72 million. On average, equities analysts predict that Hudson Technologies will post 0.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in shares of Hudson Technologies by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,574,769 shares of the industrial products company’s stock valued at $21,243,000 after buying an additional 30,217 shares during the period. Sixth Street Partners Management Company L.P. grew its position in shares of Hudson Technologies by 53.1% in the 3rd quarter. Sixth Street Partners Management Company L.P. now owns 995,000 shares of the industrial products company’s stock valued at $13,234,000 after buying an additional 345,000 shares during the last quarter. RK Capital Management LLC increased its stake in shares of Hudson Technologies by 3.8% in the fourth quarter. RK Capital Management LLC now owns 498,300 shares of the industrial products company’s stock valued at $6,722,000 after buying an additional 18,400 shares during the period. Soviero Asset Management LP raised its holdings in Hudson Technologies by 4.1% during the 4th quarter. Soviero Asset Management LP now owns 380,000 shares of the industrial products company’s stock worth $5,126,000 after purchasing an additional 14,900 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Hudson Technologies by 39.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 355,918 shares of the industrial products company’s stock valued at $3,919,000 after acquiring an additional 100,613 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

Hudson Technologies Company Profile

Hudson Technologies, Inc, through its subsidiary, Hudson Technologies Company, engages in the provision of solutions to recurring problems within the refrigeration industry in the United States. The company engages in the sale of refrigerant and industrial gas; provision of refrigerant management services consisting primarily of reclamation of refrigerants, re-usable cylinder refurbishment, and hydrostatic testing services; and RefrigerantSide services comprising system decontamination and recovery to remove moisture, oils, and other contaminants.