Canaccord Genuity Group Lowers Hudson Technologies (NASDAQ:HDSN) to Hold

Canaccord Genuity Group cut shares of Hudson Technologies (NASDAQ:HDSN) from a buy rating to a hold rating in a research report released on Thursday morning, MarketBeat Ratings reports. The brokerage currently has $10.00 price objective on the industrial products company’s stock, down from their previous price objective of $15.00.

Several other equities analysts have also recently issued reports on HDSN. Roth Mkm lowered their price objective on shares of Hudson Technologies from $14.00 to $13.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. B. Riley dropped their price objective on shares of Hudson Technologies from $17.00 to $16.00 and set a buy rating on the stock in a report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $12.40.

Hudson Technologies Price Performance

NASDAQ HDSN opened at $9.13 on Thursday. Hudson Technologies has a 1-year low of $7.21 and a 1-year high of $15.24. The firm has a market capitalization of $415.51 million, a P/E ratio of 9.32, a P/E/G ratio of 0.41 and a beta of 1.00. The business’s 50-day simple moving average is $11.48 and its 200-day simple moving average is $12.48.

Hudson Technologies (NASDAQ:HDSN) last posted its quarterly 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 firm had revenue of $65.25 million for the quarter, compared to analysts’ expectations of $63.04 million. During the same period in the prior year, the company posted $0.33 earnings per share. On average, equities research analysts expect that Hudson Technologies will post 0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in Hudson Technologies in the 3rd quarter valued at approximately $301,000. Bank of New York Mellon Corp raised its holdings in Hudson Technologies by 2.1% during the third quarter. Bank of New York Mellon Corp now owns 355,368 shares of the industrial products company’s stock worth $4,726,000 after buying an additional 7,175 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Hudson Technologies by 83.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 318,126 shares of the industrial products company’s stock valued at $4,231,000 after purchasing an additional 144,682 shares during the last quarter. Brightline Capital Management LLC purchased a new position in shares of Hudson Technologies during the third quarter valued at approximately $1,862,000. Finally, Jump Financial LLC bought a new stake in shares of Hudson Technologies in the 3rd quarter worth $262,000. 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.