Canaccord Genuity Group Reaffirms Hold Rating for Hudson Technologies (NASDAQ:HDSN)

Canaccord Genuity Group reissued their hold rating on shares of Hudson Technologies (NASDAQ:HDSN) in a research note released on Thursday, Marketbeat Ratings reports. The brokerage currently has a $10.00 price objective on the industrial products company’s stock, down from their prior price objective of $15.00.

A number of other research analysts also recently issued reports on the stock. B. Riley cut their target price on shares of Hudson Technologies from $17.00 to $16.00 and set a buy rating on the stock in a research report on Thursday, March 7th. Canaccord Genuity Group lowered shares of Hudson Technologies from a buy rating to a hold rating and cut their price objective for the company from $15.00 to $10.00 in a report on Thursday. Finally, Roth Mkm lowered their target price on shares of Hudson Technologies from $14.00 to $13.00 and set a buy rating for the company in a report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $12.40.

Hudson Technologies Stock Performance

NASDAQ:HDSN opened at $9.13 on Thursday. The company has a market cap of $415.51 million, a price-to-earnings ratio of 9.32, a P/E/G ratio of 0.41 and a beta of 1.00. The stock’s fifty day moving average price is $11.48 and its two-hundred day moving average price is $12.48. Hudson Technologies has a 52-week low of $7.21 and a 52-week high of $15.24.

Hudson Technologies (NASDAQ:HDSN) last released its earnings results on Wednesday, May 1st. The industrial products company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The company had revenue of $65.25 million during the quarter, compared to the consensus estimate of $63.04 million. Hudson Technologies had a return on equity of 22.00% and a net margin of 16.70%. During the same quarter in the previous year, the company posted $0.33 earnings per share. On average, equities analysts predict that Hudson Technologies will post 0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HDSN. Dimensional Fund Advisors LP raised its holdings in Hudson Technologies by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,574,769 shares of the industrial products company’s stock worth $21,243,000 after purchasing an additional 30,217 shares during the period. Sixth Street Partners Management Company L.P. increased its position in shares of Hudson Technologies by 53.1% in the 3rd quarter. Sixth Street Partners Management Company L.P. now owns 995,000 shares of the industrial products company’s stock valued at $13,234,000 after buying an additional 345,000 shares in the last quarter. RK Capital Management LLC increased its position in shares of Hudson Technologies by 3.8% in the 4th quarter. RK Capital Management LLC now owns 498,300 shares of the industrial products company’s stock valued at $6,722,000 after buying an additional 18,400 shares in the last quarter. Soviero Asset Management LP raised its stake in Hudson Technologies by 4.1% during the 4th quarter. Soviero Asset Management LP now owns 380,000 shares of the industrial products company’s stock worth $5,126,000 after buying an additional 14,900 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Hudson Technologies by 39.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 355,918 shares of the industrial products company’s stock worth $3,919,000 after acquiring an additional 100,613 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.