Hudson Technologies (NASDAQ:HDSN) Stock Gets Downgrade from Zacks Research

Key Points

• Zacks Research downgraded Hudson Technologies from “hold” to “strong sell,” while the overall analyst consensus remains “hold” with an average price target of $7.50.
• Other analysts lowered their price targets to $6.00 and $7.00 but maintained “buy” ratings. The company’s latest quarterly results missed expectations, reporting $0.05 in EPS versus $0.12 expected and revenue of $59.42 million versus $77.96 million expected.
• HDSN shares opened at $4.31, near their 52-week low of $4.10, while insiders purchased 254,327 shares over the past three months and institutional investors own 71.34% of the stock.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Thursday, Zacks reports.

Several other brokerages also recently issued reports on HDSN. B. Riley Financial reduced their price target on shares of Hudson Technologies from $7.25 to $6.00 and set a "buy" rating on the stock in a research report on Thursday. Weiss Ratings cut shares of Hudson Technologies from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, August 11th. Finally, Canaccord Genuity Group dropped their target price on shares of Hudson Technologies from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Thursday. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Hudson Technologies currently has an average rating of "Hold" and an average price target of $7.50.

Hudson Technologies Stock Performance

Shares of HDSN opened at $4.31 on Thursday. The company has a market cap of $181.41 million, a price-to-earnings ratio of -215.50 and a beta of 0.83. The stock has a fifty day moving average price of $5.22 and a two-hundred day moving average price of $5.93. Hudson Technologies has a 52-week low of $4.10 and a 52-week high of $9.18.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last announced its earnings results on Wednesday, October 28th. The industrial products company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.07). Hudson Technologies had a positive return on equity of 0.80% and a negative net margin of 0.54%. The business had revenue of $59.42 million for the quarter, compared to the consensus estimate of $77.96 million. As a group, research analysts predict that Hudson Technologies will post 0.14 EPS for the current fiscal year.

Insider Activity

In other Hudson Technologies news, major shareholder Hartree Partners, Lp bought 118,549 shares of the stock in a transaction that occurred on Thursday, September 24th. The stock was acquired at an average cost of $5.10 per share, with a total value of $604,599.90. Following the purchase, the insider owned 5,348,517 shares in the company, valued at $27,277,436.70. This trade represents a 2.27% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders purchased 254,327 shares of company stock valued at $1,339,392. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Hudson Technologies in the 2nd quarter valued at about $16,303,000. Dimensional Fund Advisors LP lifted its holdings in shares of Hudson Technologies by 5.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,148,311 shares of the industrial products company's stock valued at $12,631,000 after purchasing an additional 105,160 shares in the last quarter. Segall Bryant & Hamill LLC boosted its position in shares of Hudson Technologies by 248.4% during the first quarter. Segall Bryant & Hamill LLC now owns 628,341 shares of the industrial products company's stock worth $3,695,000 after buying an additional 447,987 shares during the period. JB Capital Partners LP acquired a new position in shares of Hudson Technologies during the second quarter worth about $1,757,588. Finally, Ancora Advisors LLC acquired a new position in shares of Hudson Technologies during the second quarter worth about $1,741,000. Institutional investors and hedge funds own 71.34% of the company's stock.

About Hudson Technologies

Hudson Technologies, Inc NASDAQ: HDSN provides refrigerant products and services for the heating, ventilation, air conditioning and refrigeration (HVACR) industry. The company supplies reclaimed and recycled refrigerants, as well as virgin refrigerants and related products, to customers that operate or service commercial, industrial and residential cooling systems.

Its services include refrigerant reclamation, refrigerant management, cylinder management, technical support and logistics.

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