Hudson Technologies (NASDAQ:HDSN) Cut to Hold at Zacks Research

Zacks Research lowered shares of Hudson Technologies (NASDAQ:HDSN) from a strong-buy rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Canaccord Genuity Group raised Hudson Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $6.75 to $10.50 in a report on Thursday, July 31st. B. Riley raised Hudson Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $7.50 to $9.00 in a report on Monday, June 16th. Finally, Wall Street Zen raised Hudson Technologies from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 8th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Hudson Technologies presently has an average rating of “Moderate Buy” and an average price target of $8.63.

Hudson Technologies Stock Performance

NASDAQ:HDSN opened at $9.72 on Monday. Hudson Technologies has a one year low of $5.11 and a one year high of $10.52. The stock has a market cap of $424.47 million, a PE ratio of 24.30 and a beta of 0.96. The stock has a 50 day moving average price of $9.78 and a 200 day moving average price of $7.95.

Hudson Technologies (NASDAQ:HDSN) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.15 by $0.08. Hudson Technologies had a return on equity of 7.26% and a net margin of 8.08%.The firm had revenue of $72.85 million during the quarter, compared to analysts’ expectations of $71.67 million. As a group, analysts predict that Hudson Technologies will post 0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hudson Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in Hudson Technologies by 111.8% during the 1st quarter. GAMMA Investing LLC now owns 4,970 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 2,624 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Hudson Technologies by 177.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,715 shares of the industrial products company’s stock worth $71,000 after acquiring an additional 5,576 shares in the last quarter. ProShare Advisors LLC acquired a new position in Hudson Technologies during the 4th quarter worth about $70,000. Cardinal Point Capital Management ULC acquired a new position in Hudson Technologies during the 2nd quarter worth about $104,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Hudson Technologies during the 1st quarter worth about $79,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Hudson Technologies Company 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.