Hudson Technologies, Inc. $HDSN Shares Sold by 683 Capital Management LLC

Key Points

• 683 Capital Management LLC reduced its stake in Hudson Technologies by 36.7%, owning approximately 0.92% of the company valued at $2.48 million after selling 233,317 shares in the 1st quarter.
• Several institutional investors, including Hartree Partners LP and D. E. Shaw & Co. Inc., have recently modified their positions in Hudson Technologies, reflecting increased interest from institutional players.
• Analysts have upgraded Hudson Technologies' rating, with a consensus rating of “Moderate Buy” and a price target of $8.63, indicating positive market sentiment towards the company.

683 Capital Management LLC cut its position in Hudson Technologies, Inc. (NASDAQ:HDSN - Free Report) by 36.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 402,583 shares of the industrial products company's stock after selling 233,317 shares during the quarter. 683 Capital Management LLC owned approximately 0.92% of Hudson Technologies worth $2,484,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Hartree Partners LP bought a new position in Hudson Technologies in the first quarter worth about $22,046,000. New South Capital Management Inc. raised its holdings in Hudson Technologies by 12.3% in the first quarter. New South Capital Management Inc. now owns 1,483,719 shares of the industrial products company's stock worth $9,155,000 after purchasing an additional 162,002 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in Hudson Technologies by 282.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,345,553 shares of the industrial products company's stock worth $7,508,000 after purchasing an additional 993,833 shares in the last quarter. American Century Companies Inc. raised its holdings in Hudson Technologies by 9.8% in the first quarter. American Century Companies Inc. now owns 868,059 shares of the industrial products company's stock worth $5,356,000 after purchasing an additional 77,587 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in Hudson Technologies by 13.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 418,740 shares of the industrial products company's stock worth $2,337,000 after purchasing an additional 51,100 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Canaccord Genuity Group upgraded shares of Hudson Technologies from a "hold" rating to a "buy" rating and upped their price objective for the company from $6.75 to $10.50 in a report on Thursday, July 31st. B. Riley upgraded shares of Hudson Technologies from a "neutral" rating to a "buy" rating and upped their price objective for the company from $7.50 to $9.00 in a report on Monday, June 16th. Finally, Wall Street Zen downgraded shares of Hudson Technologies from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 31st. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $8.63.

Hudson Technologies Price Performance

HDSN traded down $0.16 on Friday, reaching $10.20. 248,994 shares of the stock were exchanged, compared to its average volume of 360,130. Hudson Technologies, Inc. has a fifty-two week low of $5.11 and a fifty-two week high of $10.45. The company's 50-day moving average price is $9.11 and its 200 day moving average price is $7.42. The firm has a market capitalization of $445.41 million, a PE ratio of 25.50 and a beta of 0.97.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.08. Hudson Technologies had a net margin of 8.08% and a return on equity of 7.26%. The company had revenue of $72.85 million for the quarter, compared to the consensus estimate of $71.67 million. As a group, equities analysts forecast that Hudson Technologies, Inc. will post 0.55 earnings per share for the current fiscal year.

Hudson Technologies Company Profile

Hudson Technologies, Inc, through its subsidiary, Hudson Technologies Company, engages in the provision of solutions to recurring problems within the refrigeration industry in the United States. The company engages in the sale of refrigerant and industrial gas; provision of refrigerant management services consisting primarily of reclamation of refrigerants, re-usable cylinder refurbishment, and hydrostatic testing services; and RefrigerantSide services comprising system decontamination and recovery to remove moisture, oils, and other contaminants.