Zacks Research Downgrades Hudson Technologies (NASDAQ:HDSN) to Hold

Hudson Technologies (NASDAQ:HDSN) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Canaccord Genuity Group upgraded shares of Hudson Technologies from a “hold” rating to a “buy” rating and lifted their price target for the company from $6.75 to $10.50 in a research report on Thursday, July 31st. B. Riley upgraded shares of Hudson Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $7.50 to $9.00 in a research report on Monday, June 16th. Finally, Wall Street Zen raised shares of Hudson Technologies from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 8th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $8.63.

Hudson Technologies Price Performance

HDSN stock opened at $9.93 on Monday. The firm’s fifty day simple moving average is $9.75 and its 200-day simple moving average is $7.94. The company has a market capitalization of $433.64 million, a P/E ratio of 24.83 and a beta of 0.97. Hudson Technologies has a 12 month low of $5.11 and a 12 month high of $10.52.

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

Hedge Funds Weigh In On Hudson Technologies

Several institutional investors have recently bought and sold shares of HDSN. GAMMA Investing LLC boosted its stake in shares of Hudson Technologies by 30.5% during the 2nd quarter. GAMMA Investing LLC now owns 6,487 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 1,517 shares during the last quarter. SummerHaven Investment Management LLC raised its position in shares of Hudson Technologies by 2.7% in the first quarter. SummerHaven Investment Management LLC now owns 94,287 shares of the industrial products company’s stock valued at $582,000 after buying an additional 2,479 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Hudson Technologies by 24.2% in the first quarter. Sequoia Financial Advisors LLC now owns 16,525 shares of the industrial products company’s stock valued at $102,000 after buying an additional 3,225 shares during the last quarter. EP Wealth Advisors LLC raised its position in shares of Hudson Technologies by 29.7% in the first quarter. EP Wealth Advisors LLC now owns 16,519 shares of the industrial products company’s stock valued at $102,000 after buying an additional 3,785 shares during the last quarter. Finally, MetLife Investment Management LLC raised its position in shares of Hudson Technologies by 25.2% in the first quarter. MetLife Investment Management LLC now owns 24,316 shares of the industrial products company’s stock valued at $150,000 after buying an additional 4,900 shares during 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.