Hudson Technologies, Inc. $HDSN Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC significantly reduced its stake in Hudson Technologies by 68.8%, now holding 15,725 shares valued at $97,000 after selling 34,640 shares in the first quarter.
• Other institutional investors such as SummerHaven Investment Management LLC and GAMMA Investing LLC have increased their positions in Hudson Technologies, indicating a mixed sentiment among investors.
• Hudson Technologies reported a Q2 EPS of $0.23, exceeding estimates, and has received multiple upgrades from analysts, including a new price target of $10.50 from Canaccord Genuity.

Algert Global LLC lessened its stake in shares of Hudson Technologies, Inc. (NASDAQ:HDSN - Free Report) by 68.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,725 shares of the industrial products company's stock after selling 34,640 shares during the quarter. Algert Global LLC's holdings in Hudson Technologies were worth $97,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new stake in Hudson Technologies in the 1st quarter valued at about $79,000. Sequoia Financial Advisors LLC lifted its stake in shares of Hudson Technologies by 24.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 16,525 shares of the industrial products company's stock valued at $102,000 after purchasing an additional 3,225 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Hudson Technologies by 111.8% in the 1st quarter. GAMMA Investing LLC now owns 4,970 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 2,624 shares in the last quarter. New South Capital Management Inc. lifted its stake in shares of Hudson Technologies by 12.3% in the 1st quarter. New South Capital Management Inc. now owns 1,483,719 shares of the industrial products company's stock valued at $9,155,000 after purchasing an additional 162,002 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its stake in shares of Hudson Technologies by 147.8% in the 4th quarter. Two Sigma Advisers LP now owns 234,400 shares of the industrial products company's stock valued at $1,308,000 after purchasing an additional 139,800 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on HDSN. Craig Hallum raised Hudson Technologies from a "hold" rating to a "buy" rating and set a $8.00 price objective on the stock in a research note on Thursday, May 8th. B. Riley raised Hudson Technologies from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $7.50 to $9.00 in a research note on Monday, June 16th. Wall Street Zen lowered Hudson Technologies from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Finally, Canaccord Genuity Group raised Hudson Technologies from a "hold" rating to a "buy" rating and lifted their price objective for the company from $6.75 to $10.50 in a research note on Thursday, July 31st. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $8.63.

Hudson Technologies Price Performance

Hudson Technologies stock traded down $0.12 during midday trading on Friday, hitting $10.16. 314,419 shares of the company were exchanged, compared to its average volume of 466,686. The company's fifty day moving average price is $8.89 and its 200-day moving average price is $7.28. The company has a market cap of $443.69 million, a PE ratio of 25.40, a price-to-earnings-growth ratio of 0.73 and a beta of 0.96. Hudson Technologies, Inc. has a fifty-two week low of $5.11 and a fifty-two week high of $10.34.

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

Hudson Technologies 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.