Canaccord Genuity Group Issues Pessimistic Forecast for Hudson Technologies (NASDAQ:HDSN) Stock Price

Hudson Technologies (NASDAQ:HDSN) had its price objective cut by investment analysts at Canaccord Genuity Group from $10.00 to $9.50 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Canaccord Genuity Group’s target price would indicate a potential upside of 53.23% from the company’s previous close.

A number of other analysts have also issued reports on HDSN. Wall Street Zen upgraded shares of Hudson Technologies from a “hold” rating to a “buy” rating in a research note on Sunday, November 16th. Roth Mkm decreased their price objective on shares of Hudson Technologies from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Friday. B. Riley Financial dropped their target price on shares of Hudson Technologies from $10.50 to $9.50 and set a “buy” rating for the company in a research report on Thursday. Craig Hallum lowered shares of Hudson Technologies from a “buy” rating to a “hold” rating and set a $9.00 target price on the stock. in a research note on Thursday, November 6th. Finally, Weiss Ratings cut shares of Hudson Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Hudson Technologies currently has a consensus rating of “Hold” and an average target price of $9.00.

Hudson Technologies Stock Down 2.4%

HDSN opened at $6.20 on Friday. Hudson Technologies has a 52 week low of $5.11 and a 52 week high of $10.52. The business’s 50 day moving average is $7.19 and its two-hundred day moving average is $8.10. The firm has a market cap of $266.60 million, a price-to-earnings ratio of 17.22 and a beta of 0.92.

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

Hedge Funds Weigh In On Hudson Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue acquired a new stake in shares of Hudson Technologies during the 4th quarter worth approximately $28,000. Nkcfo LLC acquired a new position in Hudson Technologies during the 3rd quarter valued at approximately $47,000. Quarry LP boosted its position in Hudson Technologies by 51.9% during the 3rd quarter. Quarry LP now owns 5,281 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 1,805 shares during the period. BNP Paribas Financial Markets grew its stake in Hudson Technologies by 88.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,530 shares of the industrial products company’s stock worth $75,000 after buying an additional 3,532 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Hudson Technologies by 177.6% in the second quarter. Tower Research Capital LLC TRC now owns 8,715 shares of the industrial products company’s stock worth $71,000 after buying an additional 5,576 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Hudson Technologies Company Profile

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.