Bastion Asset Management Inc. Sells 65,538 Shares of Hudson Technologies, Inc. (NASDAQ:HDSN)

Key Points

• Bastion Asset Management Inc. reduced its stake in Hudson Technologies, Inc. by 24.6%, selling 65,538 shares and holding 200,888 shares at the end of the first quarter, valued at approximately $1.37 million.
• Analysts have raised their price targets for Hudson Technologies, with Canaccord Genuity setting a target of $6.75, while B. Riley increased it to $9.00, reflecting a generally positive outlook for the stock.
• Hudson Technologies has seen 71.34% of its stock owned by institutional investors, indicating strong interest from larger financial entities, and it reported earnings surpassing estimates with $0.06 EPS against a consensus of $0.01.

Bastion Asset Management Inc. lowered its position in Hudson Technologies, Inc. (NASDAQ:HDSN - Free Report) by 24.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 200,888 shares of the industrial products company's stock after selling 65,538 shares during the period. Bastion Asset Management Inc. owned 0.46% of Hudson Technologies worth $1,370,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new position in Hudson Technologies during the first quarter worth about $79,000. GAMMA Investing LLC increased its holdings in Hudson Technologies by 111.8% during the 1st quarter. GAMMA Investing LLC now owns 4,970 shares of the industrial products company's stock worth $31,000 after purchasing an additional 2,624 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Hudson Technologies by 24.2% in the first 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. New South Capital Management Inc. boosted its position in shares of Hudson Technologies by 12.3% during 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 buying an additional 162,002 shares during the period. Finally, Millennium Management LLC raised its position in Hudson Technologies by 354.3% in the 4th quarter. Millennium Management LLC now owns 184,407 shares of the industrial products company's stock valued at $1,029,000 after buying an additional 143,815 shares during the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Hudson Technologies Stock Performance

Shares of NASDAQ HDSN traded up $0.09 during trading on Monday, hitting $8.62. 448,743 shares of the company traded hands, compared to its average volume of 241,846. The firm has a market capitalization of $374.80 million, a price-to-earnings ratio of 23.30, a P/E/G ratio of 0.78 and a beta of 0.94. The business's fifty day moving average is $7.77 and its 200 day moving average is $6.63. Hudson Technologies, Inc. has a fifty-two week low of $5.11 and a fifty-two week high of $9.06.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.01 by $0.05. Hudson Technologies had a return on equity of 7.07% and a net margin of 7.74%. The firm had revenue of $55.34 million during the quarter, compared to the consensus estimate of $52.23 million. On average, analysts predict that Hudson Technologies, Inc. will post 0.55 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on HDSN shares. Canaccord Genuity Group lifted their target price on Hudson Technologies from $6.25 to $6.75 and gave the company a "hold" rating in a research report on Thursday, May 8th. B. Riley upgraded shares of Hudson Technologies from a "neutral" rating to a "buy" rating and raised their target price for the company from $7.50 to $9.00 in a research note on Monday, June 16th. Finally, Craig Hallum raised Hudson Technologies from a "hold" rating to a "buy" rating and set a $8.00 target price on the stock in a report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $7.69.

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.