Balyasny Asset Management L.P. Purchases Shares of 40,040 Hudson Technologies, Inc. (NASDAQ:HDSN)

Balyasny Asset Management L.P. acquired a new stake in shares of Hudson Technologies, Inc. (NASDAQ:HDSN) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 40,040 shares of the industrial products company’s stock, valued at approximately $223,000. Balyasny Asset Management L.P. owned about 0.09% of Hudson Technologies as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Hudson Technologies in the fourth quarter worth about $1,733,000. JPMorgan Chase & Co. raised its holdings in shares of Hudson Technologies by 69.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 338,607 shares of the industrial products company’s stock worth $2,824,000 after acquiring an additional 139,042 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Hudson Technologies during the 4th quarter valued at approximately $249,000. Bastion Asset Management Inc. bought a new position in shares of Hudson Technologies during the 4th quarter valued at approximately $1,487,000. Finally, XTX Topco Ltd grew its holdings in shares of Hudson Technologies by 148.3% in the fourth quarter. XTX Topco Ltd now owns 103,229 shares of the industrial products company’s stock valued at $576,000 after purchasing an additional 61,651 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Hudson Technologies Stock Down 0.8%

HDSN stock opened at $7.82 on Monday. Hudson Technologies, Inc. has a twelve month low of $5.11 and a twelve month high of $10.04. The stock has a market capitalization of $340.02 million, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 0.49 and a beta of 0.92. The firm’s fifty day simple moving average is $6.20 and its two-hundred day simple moving average is $5.95.

Hudson Technologies (NASDAQ:HDSN) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. Hudson Technologies had a net margin of 12.49% and a return on equity of 12.74%. The firm had revenue of $55.34 million during the quarter, compared to analysts’ expectations of $52.23 million. As a group, equities research analysts expect that Hudson Technologies, Inc. will post 0.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Craig Hallum upgraded shares of Hudson Technologies from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Thursday, May 8th. Canaccord Genuity Group boosted their price objective on Hudson Technologies from $6.25 to $6.75 and gave the stock a “hold” rating in a research note on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.25.

Hudson Technologies Profile

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.