Canaccord Genuity Group Cuts Hudson Technologies (NASDAQ:HDSN) Price Target to $10.00

Hudson Technologies (NASDAQ:HDSN) had its price objective lowered by Canaccord Genuity Group from $10.50 to $10.00 in a research note published on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the industrial products company’s stock.

A number of other equities research analysts also recently commented on the company. Craig Hallum downgraded Hudson Technologies from a “buy” rating to a “hold” rating and set a $9.00 target price on the stock. in a research report on Thursday, November 6th. Zacks Research downgraded Hudson Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Wall Street Zen cut Hudson Technologies from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Hudson Technologies in a research report on Wednesday, October 8th. Two research 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 presently has a consensus rating of “Hold” and a consensus target price of $9.33.

Hudson Technologies Stock Performance

Shares of NASDAQ:HDSN opened at $7.20 on Monday. The firm has a market cap of $314.41 million, a price-to-earnings ratio of 18.00 and a beta of 0.91. The firm has a fifty day moving average price of $9.27 and a 200 day moving average price of $8.60. Hudson Technologies has a fifty-two week low of $5.11 and a fifty-two week high of $10.52.

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

Hedge Funds Weigh In On Hudson Technologies

A number of institutional investors and hedge funds have recently modified their holdings of HDSN. Hartree Partners LP purchased a new stake in Hudson Technologies during the 1st quarter valued at $22,046,000. Westerly Capital Management LLC boosted its stake 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 worth $16,240,000 after buying an additional 775,000 shares during the period. Arrowstreet Capital Limited Partnership increased its position 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 valued at $9,028,000 after acquiring an additional 563,899 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Hudson Technologies by 23.6% in the second quarter. American Century Companies Inc. now owns 1,072,754 shares of the industrial products company’s stock valued at $8,711,000 after acquiring an additional 204,695 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Hudson Technologies by 7.2% in the 1st quarter. AQR Capital Management LLC now owns 591,645 shares of the industrial products company’s stock worth $3,650,000 after acquiring an additional 39,654 shares during the last quarter. Hedge funds and other 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.