ProShare Advisors LLC Buys New Shares in Hudson Technologies, Inc. (NASDAQ:HDSN)

ProShare Advisors LLC purchased a new position in shares of Hudson Technologies, Inc. (NASDAQ:HDSN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 12,519 shares of the industrial products company’s stock, valued at approximately $70,000.

Several other hedge funds have also recently added to or reduced their stakes in HDSN. Man Group plc bought a new stake in Hudson Technologies in the 4th quarter worth approximately $797,000. Millennium Management LLC grew its position in Hudson Technologies by 354.3% during the fourth quarter. Millennium Management LLC now owns 184,407 shares of the industrial products company’s stock valued at $1,029,000 after acquiring an additional 143,815 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Hudson Technologies during the fourth quarter worth approximately $791,000. Graham Capital Management L.P. raised its stake in shares of Hudson Technologies by 125.7% during the fourth quarter. Graham Capital Management L.P. now owns 80,945 shares of the industrial products company’s stock worth $452,000 after acquiring an additional 45,083 shares in the last quarter. Finally, Forest Hill Capital LLC bought a new stake in shares of Hudson Technologies in the 4th quarter worth approximately $558,000. Institutional investors own 71.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Canaccord Genuity Group upped their price target on shares of Hudson Technologies from $6.25 to $6.75 and gave the company a “hold” rating in a research report on Thursday, May 8th. Craig Hallum upgraded shares of Hudson Technologies from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a research report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.25.

Hudson Technologies Price Performance

HDSN opened at $7.25 on Wednesday. The firm has a market cap of $315.24 million, a price-to-earnings ratio of 11.15, a PEG ratio of 0.49 and a beta of 0.92. Hudson Technologies, Inc. has a 1 year low of $5.11 and a 1 year high of $9.58. The stock’s 50 day simple moving average is $6.47 and its 200 day simple moving average is $6.04.

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

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.