B. Riley Financial Issues Pessimistic Forecast for Hudson Technologies (NASDAQ:HDSN) Stock Price

Key Points

• B. Riley Financial lowered its target on Hudson Technologies from $10.50 to $9.50 but maintained a "buy" rating, with the new target implying roughly a 46.38% upside from the current price.
• Analyst coverage is mixed—two Buy, two Hold and one Sell—resulting in an average consensus rating of "Hold" and an average price target of $9.50.
• Shares fell to $6.49 on heavy volume (507,664 shares); the company recently missed EPS estimates (‑$0.13 vs. ‑$0.09) while beating revenue ($44.41M vs. $38.12M), and has a market cap of about $279M.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) had its target price lowered by stock analysts at B. Riley Financial from $10.50 to $9.50 in a research report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the industrial products company's stock. B. Riley Financial's price target would indicate a potential upside of 46.38% from the stock's current price.

Other equities analysts have also recently issued research reports about the company. Craig Hallum cut Hudson Technologies from a "buy" rating to a "hold" rating and set a $9.00 target price for the company. in a report on Thursday, November 6th. Wall Street Zen raised shares of Hudson Technologies from a "hold" rating to a "buy" rating in a research report on Sunday, November 16th. Weiss Ratings downgraded shares of Hudson Technologies from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday. Finally, Canaccord Genuity Group decreased their target price on Hudson Technologies from $10.50 to $10.00 and set a "buy" rating for the company in a research report on Monday, November 10th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $9.50.

Hudson Technologies Stock Performance

Shares of Hudson Technologies stock traded down $0.61 during trading on Thursday, reaching $6.49. 507,664 shares of the company's stock were exchanged, compared to its average volume of 241,265. Hudson Technologies has a 1-year low of $5.11 and a 1-year high of $10.52. The company has a market cap of $279.07 million, a P/E ratio of 12.98 and a beta of 0.92. The firm's 50-day moving average price is $7.22 and its 200 day moving average price is $8.15.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last released 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). The business had revenue of $44.41 million during the quarter, compared to the consensus estimate of $38.12 million. Hudson Technologies had a net margin of 9.60% and a return on equity of 8.97%. As a group, equities research analysts predict that Hudson Technologies will post 0.55 EPS for the current year.

Hedge Funds Weigh In On Hudson Technologies

Several hedge funds have recently made changes to their positions in HDSN. State of Alaska Department of Revenue bought a new stake in Hudson Technologies during the 4th quarter worth approximately $28,000. Nkcfo LLC bought a new stake in Hudson Technologies during the third quarter valued at $47,000. Quarry LP grew its position in Hudson Technologies by 51.9% during the third quarter. Quarry LP now owns 5,281 shares of the industrial products company's stock worth $52,000 after buying an additional 1,805 shares in the last quarter. BNP Paribas Financial Markets grew its position in Hudson Technologies by 88.3% during the third 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 in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Hudson Technologies by 177.6% in 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 during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

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.

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