Hudson Technologies (NASDAQ:HDSN) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Hudson Technologies (NASDAQ:HDSN) from a hold rating to a buy rating in a research note published on Sunday.

Other equities analysts have also recently issued reports about the stock. Zacks Research cut shares of Hudson Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hudson Technologies in a report on Wednesday, October 8th. Canaccord Genuity Group lowered their price target on shares of Hudson Technologies from $10.50 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 10th. Finally, Craig Hallum cut Hudson Technologies from a “buy” rating to a “hold” rating and set a $9.00 price objective for the company. in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.33.

Hudson Technologies Stock Performance

Hudson Technologies stock opened at $6.79 on Friday. The stock has a 50-day simple moving average of $9.13 and a 200 day simple moving average of $8.62. The stock has a market capitalization of $296.03 million, a P/E ratio of 16.98 and a beta of 0.91. Hudson Technologies has a 52 week low of $5.11 and a 52 week high of $10.52.

Hudson Technologies (NASDAQ:HDSN) last released its quarterly earnings data on Wednesday, November 5th. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.06. Hudson Technologies had a return on equity of 7.26% and a net margin of 8.08%.The firm had revenue of $74.01 million for the quarter, compared to analyst estimates of $72.15 million. Research analysts forecast that Hudson Technologies will post 0.55 earnings per share for the current year.

Institutional Investors Weigh In On Hudson Technologies

Several institutional investors and hedge funds have recently bought and sold shares of HDSN. Hartree Partners LP bought a new position in Hudson Technologies in the 1st quarter valued at about $22,046,000. Westerly Capital Management LLC raised its position in Hudson Technologies by 63.3% during the second quarter. Westerly Capital Management LLC now owns 2,000,000 shares of the industrial products company’s stock valued at $16,240,000 after purchasing an additional 775,000 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Hudson Technologies by 102.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,111,803 shares of the industrial products company’s stock worth $9,028,000 after purchasing an additional 563,899 shares during the last quarter. Oaktree Capital Management LP bought a new stake in Hudson Technologies during the second quarter worth $4,569,000. Finally, American Century Companies Inc. boosted its holdings in shares of Hudson Technologies by 23.6% in the 2nd quarter. American Century Companies Inc. now owns 1,072,754 shares of the industrial products company’s stock valued at $8,711,000 after purchasing an additional 204,695 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

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.