Hudson Technologies, Inc. (NASDAQ:HDSN) Receives $8.63 Average PT from Brokerages

Shares of Hudson Technologies, Inc. (NASDAQ:HDSN) have been given an average rating of “Moderate Buy” by the five brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $8.6250.

A number of research firms have issued reports on HDSN. Wall Street Zen lowered Hudson Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday. Craig Hallum upgraded shares of Hudson Technologies from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research note on Thursday, May 8th. B. Riley raised shares of Hudson Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $7.50 to $9.00 in a research report on Monday, June 16th. Finally, Canaccord Genuity Group raised shares of Hudson Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $6.75 to $10.50 in a report on Thursday, July 31st.

Hudson Technologies Price Performance

Hudson Technologies stock opened at $10.16 on Wednesday. Hudson Technologies has a fifty-two week low of $5.11 and a fifty-two week high of $10.34. The firm has a fifty day moving average price of $8.89 and a two-hundred day moving average price of $7.29. The firm has a market cap of $443.69 million, a price-to-earnings ratio of 25.40 and a beta of 0.97.

Hudson Technologies (NASDAQ:HDSN) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.08. Hudson Technologies had a return on equity of 7.26% and a net margin of 8.08%.The company had revenue of $72.85 million for the quarter, compared to the consensus estimate of $71.67 million. As a group, sell-side analysts expect that Hudson Technologies will post 0.55 earnings per share for the current year.

Institutional Investors Weigh In On Hudson Technologies

Institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in Hudson Technologies by 177.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,715 shares of the industrial products company’s stock valued at $71,000 after acquiring an additional 5,576 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Hudson Technologies by 1,309.6% in the second quarter. Lazard Asset Management LLC now owns 80,811 shares of the industrial products company’s stock valued at $656,000 after purchasing an additional 75,078 shares in the last quarter. Bridgeway Capital Management LLC raised its stake in shares of Hudson Technologies by 7.1% in the second quarter. Bridgeway Capital Management LLC now owns 297,112 shares of the industrial products company’s stock valued at $2,413,000 after purchasing an additional 19,700 shares in the last quarter. Brevan Howard Capital Management LP bought a new position in Hudson Technologies in the second quarter worth $139,000. Finally, Bank of America Corp DE boosted its stake in Hudson Technologies by 216.1% during the second quarter. Bank of America Corp DE now owns 174,682 shares of the industrial products company’s stock worth $1,418,000 after buying an additional 119,413 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

About Hudson Technologies

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.