Comerica Bank Sells 61,632 Shares of Hudson Technologies, Inc. $HDSN

Key Points

• Comerica Bank has reduced its stakes in Hudson Technologies by 60.2%, owning only 40,803 shares, valued at $252,000 following the sale of 61,632 shares in the first quarter.
• Several investors have altered their positions in Hudson Technologies, with New South Capital Management increasing its stake by 12.3%, purchasing an additional 162,002 shares during the same period.
• Hudson Technologies reported a net margin of 8.08% and an EPS of $0.23 for the last quarter, surpassing analysts' expectations of $0.15.

Comerica Bank cut its stake in Hudson Technologies, Inc. (NASDAQ:HDSN - Free Report) by 60.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,803 shares of the industrial products company's stock after selling 61,632 shares during the period. Comerica Bank owned 0.09% of Hudson Technologies worth $252,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. SummerHaven Investment Management LLC lifted its holdings in Hudson Technologies by 2.7% in the first quarter. SummerHaven Investment Management LLC now owns 94,287 shares of the industrial products company's stock worth $582,000 after buying an additional 2,479 shares during the period. GAMMA Investing LLC lifted its holdings in Hudson Technologies by 111.8% in the first quarter. GAMMA Investing LLC now owns 4,970 shares of the industrial products company's stock worth $31,000 after buying an additional 2,624 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in 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 worth $102,000 after buying an additional 3,225 shares during the period. MetLife Investment Management LLC lifted its holdings in Hudson Technologies by 25.2% in the first quarter. MetLife Investment Management LLC now owns 24,316 shares of the industrial products company's stock worth $150,000 after buying an additional 4,900 shares during the period. Finally, Boston Partners lifted its holdings in shares of Hudson Technologies by 18.6% during the first quarter. Boston Partners now owns 32,272 shares of the industrial products company's stock valued at $199,000 after purchasing an additional 5,065 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on HDSN shares. B. Riley upgraded shares of Hudson Technologies from a "neutral" rating to a "buy" rating and lifted their target price for the company from $7.50 to $9.00 in a report on Monday, June 16th. Wall Street Zen upgraded shares of Hudson Technologies from a "buy" rating to a "strong-buy" rating in a report on Monday, September 8th. Finally, Canaccord Genuity Group upgraded shares of Hudson Technologies from a "hold" rating to a "buy" rating and lifted their target price for the company from $6.75 to $10.50 in a report on Thursday, July 31st. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. 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 Stock Performance

Shares of HDSN traded down $0.15 on Friday, hitting $10.16. 183,764 shares of the stock traded hands, compared to its average volume of 307,591. The company has a market capitalization of $443.67 million, a PE ratio of 25.40 and a beta of 0.97. The business has a 50 day simple moving average of $9.32 and a 200 day simple moving average of $7.60. Hudson Technologies, Inc. has a one year low of $5.11 and a one year high of $10.45.

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