Hudson Technologies (NASDAQ:HDSN) Downgraded to “Hold” at Canaccord Genuity Group

Canaccord Genuity Group downgraded shares of Hudson Technologies (NASDAQ:HDSN) from a buy rating to a hold rating in a report released on Thursday, MarketBeat.com reports. They currently have $10.00 price target on the industrial products company’s stock, down from their previous price target of $15.00.

A number of other equities analysts have also recently commented on HDSN. Roth Mkm decreased their target price on Hudson Technologies from $14.00 to $13.00 and set a buy rating on the stock in a report on Wednesday. B. Riley decreased their price objective on Hudson Technologies from $17.00 to $16.00 and set a buy rating on the stock in a research note on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Hudson Technologies currently has an average rating of Moderate Buy and a consensus price target of $12.40.

Hudson Technologies Stock Up 0.3 %

NASDAQ:HDSN traded up $0.03 on Thursday, hitting $9.13. The stock had a trading volume of 1,091,323 shares, compared to its average volume of 653,188. Hudson Technologies has a 52-week low of $7.21 and a 52-week high of $15.24. The stock has a market cap of $415.51 million, a price-to-earnings ratio of 9.32, a price-to-earnings-growth ratio of 0.41 and a beta of 1.00. The business’s 50-day simple moving average is $11.48 and its two-hundred day simple moving average is $12.49.

Hudson Technologies (NASDAQ:HDSN) last announced its earnings results on Wednesday, May 1st. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. Hudson Technologies had a net margin of 16.70% and a return on equity of 22.00%. The company had revenue of $65.25 million during the quarter, compared to analyst estimates of $63.04 million. During the same period in the previous year, the business posted $0.33 earnings per share. As a group, equities research analysts anticipate that Hudson Technologies will post 0.74 EPS for the current year.

Institutional Investors Weigh In On Hudson Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its holdings in shares of Hudson Technologies by 417.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,954 shares of the industrial products company’s stock worth $94,000 after buying an additional 5,610 shares in the last quarter. Paradice Investment Management LLC purchased a new position in shares of Hudson Technologies in the fourth quarter worth $154,000. Sequoia Financial Advisors LLC purchased a new position in shares of Hudson Technologies in the first quarter worth $126,000. Arizona State Retirement System purchased a new position in shares of Hudson Technologies in the fourth quarter worth $154,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Hudson Technologies in the fourth quarter worth $163,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

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.