2,840,272 Shares in Hudson Technologies, Inc. $HDSN Purchased by BlackRock Inc.

Key Points

• BlackRock acquired 2.84 million Hudson Technologies shares worth approximately $16.3 million, giving it a 6.75% stake. Institutional investors collectively own 71.34% of the company.
• Analyst sentiment is mixed: Canaccord maintained a “Buy” rating despite lowering its price target to $8, while Weiss Ratings and Wall Street Zen downgraded the stock to “Sell.” The overall consensus is “Hold,” with an $8.62 target price.
• Hudson Technologies reported quarterly earnings of $0.12 per share, below the $0.18 consensus estimate, although revenue of $78.35 million exceeded expectations. The stock opened at $5.25, near its 52-week low of $4.64.

BlackRock Inc. acquired a new position in Hudson Technologies, Inc. (NASDAQ:HDSN - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,840,272 shares of the industrial products company's stock, valued at approximately $16,303,000. BlackRock Inc. owned about 6.75% of Hudson Technologies at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Quarry LP lifted its position in shares of Hudson Technologies by 51.9% in the third quarter. Quarry LP now owns 5,281 shares of the industrial products company's stock valued at $52,000 after acquiring an additional 1,805 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of 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 purchasing an additional 3,532 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Hudson Technologies by 177.6% during the second quarter. Tower Research Capital LLC TRC now owns 8,715 shares of the industrial products company's stock worth $71,000 after purchasing an additional 5,576 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in Hudson Technologies in the 4th quarter valued at $62,000. Finally, AXQ Capital LP acquired a new position in Hudson Technologies in the 4th quarter valued at $85,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on HDSN shares. Canaccord Genuity Group lowered their target price on shares of Hudson Technologies from $9.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Weiss Ratings downgraded shares of Hudson Technologies from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen lowered shares of Hudson Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $8.62.

Hudson Technologies Price Performance

Hudson Technologies stock opened at $5.25 on Friday. The firm has a 50 day simple moving average of $5.87 and a 200-day simple moving average of $5.92. The stock has a market cap of $220.97 million, a price-to-earnings ratio of 26.25 and a beta of 0.77. Hudson Technologies, Inc. has a 1-year low of $4.64 and a 1-year high of $10.52.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.06). The firm had revenue of $78.35 million for the quarter, compared to analysts' expectations of $74.20 million. Hudson Technologies had a net margin of 3.51% and a return on equity of 4.95%. Equities analysts expect that Hudson Technologies, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Activity at Hudson Technologies

In other Hudson Technologies news, major shareholder Hartree Partners, Lp purchased 288,111 shares of the firm's stock in a transaction dated Wednesday, July 1st. The shares were acquired at an average price of $5.88 per share, with a total value of $1,694,092.68. Following the purchase, the insider directly owned 4,700,000 shares in the company, valued at approximately $27,636,000. This trade represents a 6.53% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders acquired 992,900 shares of company stock valued at $5,795,021. Corporate insiders own 1.90% of the company's stock.

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.

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