Bank of New York Mellon Corp Invests $1.18 Million in Hudson Technologies, Inc. $HDSN

Key Points

• Bank of New York Mellon acquired 204,779 shares of Hudson Technologies in the second quarter, valued at approximately $1.18 million, giving it a 0.49% stake. Institutional investors collectively own 71.34% of the company.
• Hudson Technologies’ shares opened at $5.32, near the lower end of their 12-month range of $4.64 to $10.52. The company reported quarterly revenue of $78.35 million but missed earnings expectations, posting $0.12 per share versus the $0.18 consensus estimate.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an $8.62 target price. Meanwhile, insiders purchased nearly 1 million shares worth $5.82 million over the past 90 days.

Bank of New York Mellon Corp acquired a new stake in Hudson Technologies, Inc. (NASDAQ:HDSN - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 204,779 shares of the industrial products company's stock, valued at approximately $1,175,000. Bank of New York Mellon Corp owned 0.49% of Hudson Technologies at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of HDSN. Quarry LP increased its holdings 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 worth $52,000 after purchasing an additional 1,805 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in shares of Hudson Technologies in the 4th quarter valued at about $62,000. Tower Research Capital LLC TRC boosted its position in shares of Hudson Technologies by 177.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,715 shares of the industrial products company's stock valued at $71,000 after acquiring an additional 5,576 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Hudson Technologies by 88.3% in 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 during the last quarter. Finally, State of Wyoming purchased a new stake in Hudson Technologies in the second quarter valued at approximately $78,000. Institutional investors own 71.34% of the company's stock.

Hudson Technologies Stock Down 0.6%

NASDAQ HDSN opened at $5.32 on Thursday. The company has a 50-day simple moving average of $5.85 and a two-hundred day simple moving average of $5.87. Hudson Technologies, Inc. has a 12-month low of $4.64 and a 12-month high of $10.52. The firm has a market cap of $223.92 million, a price-to-earnings ratio of 26.60 and a beta of 0.77.

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

Insiders Place Their Bets

In related news, major shareholder Hartree Partners, Lp acquired 5,317 shares of the stock in a transaction on Wednesday, September 2nd. The stock was purchased at an average price of $5.10 per share, for a total transaction of $27,116.70. Following the completion of the transaction, the insider owned 5,205,317 shares of the company's stock, valued at $26,547,116.70. This trade represents a 0.10% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders purchased a total of 998,217 shares of company stock valued at $5,822,138 in the last ninety days. Insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on HDSN. Weiss Ratings cut shares of Hudson Technologies from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, August 11th. Wall Street Zen lowered shares of Hudson Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Finally, Canaccord Genuity Group lowered their price target on Hudson Technologies from $9.00 to $8.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Two 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 MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $8.62.

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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