B. Riley Financial Cuts Hudson Technologies (NASDAQ:HDSN) Price Target to $9.50

Hudson Technologies (NASDAQ:HDSN) had its price target lowered by B. Riley Financial from $10.50 to $9.50 in a research note released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Several other research firms have also weighed in on HDSN. Canaccord Genuity Group dropped their price target on Hudson Technologies from $10.50 to $10.00 and set a “buy” rating on the stock in a research report on Monday, November 10th. Weiss Ratings downgraded Hudson Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Craig Hallum lowered Hudson Technologies from a “buy” rating to a “hold” rating and set a $9.00 price objective for the company. in a research report on Thursday, November 6th. Finally, Wall Street Zen upgraded shares of Hudson Technologies from a “hold” rating to a “buy” rating in a report on Sunday, November 16th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Hudson Technologies currently has an average rating of “Hold” and a consensus target price of $9.00.

Hudson Technologies Price Performance

Shares of HDSN opened at $6.20 on Thursday. The company has a 50-day simple moving average of $7.19 and a two-hundred day simple moving average of $8.10. The firm has a market capitalization of $266.60 million, a PE ratio of 17.22 and a beta of 0.92. Hudson Technologies has a one year low of $5.11 and a one year high of $10.52.

Hudson Technologies (NASDAQ:HDSN) last posted its earnings results on Wednesday, March 4th. The industrial products company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). Hudson Technologies had a return on equity of 7.78% and a net margin of 6.76%.The firm had revenue of $44.41 million for the quarter, compared to analysts’ expectations of $38.12 million. Analysts expect that Hudson Technologies will post 0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Westerly Capital Management LLC raised its stake in Hudson Technologies by 63.3% during the second quarter. Westerly Capital Management LLC now owns 2,000,000 shares of the industrial products company’s stock valued at $16,240,000 after buying an additional 775,000 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Hudson Technologies by 102.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,111,803 shares of the industrial products company’s stock worth $9,028,000 after acquiring an additional 563,899 shares during the last quarter. Oaktree Capital Management LP bought a new position in shares of Hudson Technologies during the second quarter valued at $4,569,000. Marshall Wace LLP increased its holdings in shares of Hudson Technologies by 270.4% during the fourth quarter. Marshall Wace LLP now owns 465,130 shares of the industrial products company’s stock valued at $3,186,000 after acquiring an additional 339,543 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Hudson Technologies by 53,751.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 269,256 shares of the industrial products company’s stock worth $1,844,000 after purchasing an additional 268,756 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

About Hudson Technologies

Hudson Technologies, Inc is a U.S.-based provider of refrigerant management and sustainability solutions, specializing in the recovery, reclamation and recycling of refrigerant gases. The company’s core business centers on collecting used refrigerants—such as CFCs, HCFCs and HFCs—from industrial, commercial and institutional customers, processing them in certified reclamation facilities and returning material that meets industry purity standards.

Headquartered in Purchase, New York, Hudson Technologies operates a network of reclamation centers across the continental United States.