Cubist Systematic Strategies LLC Has $507,000 Stock Position in Hudson Technologies, Inc. $HDSN

Key Points

• Cubist Systematic Strategies LLC reduced its stake in Hudson Technologies by 58.2% in the first quarter, now holding 82,152 shares valued at approximately $507,000.
• Other investors, such as GAMMA Investing LLC and Wealth Enhancement Advisory Services LLC, have increased their positions, reflecting significant institutional ownership of 71.34% in the company.
• Hudson Technologies reported $0.23 earnings per share, exceeding expectations, and received multiple upgrades from analysts, indicating a consensus "Moderate Buy" rating with an average target price of $8.63.

Cubist Systematic Strategies LLC lowered its holdings in shares of Hudson Technologies, Inc. (NASDAQ:HDSN - Free Report) by 58.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 82,152 shares of the industrial products company's stock after selling 114,428 shares during the period. Cubist Systematic Strategies LLC owned 0.19% of Hudson Technologies worth $507,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of HDSN. Price T Rowe Associates Inc. MD grew its holdings in Hudson Technologies by 20.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,192 shares of the industrial products company's stock worth $219,000 after purchasing an additional 6,673 shares during the period. Voya Investment Management LLC lifted its position in Hudson Technologies by 22.4% during the fourth quarter. Voya Investment Management LLC now owns 37,435 shares of the industrial products company's stock worth $209,000 after acquiring an additional 6,839 shares during the last quarter. Northern Trust Corp lifted its position in Hudson Technologies by 5.6% during the fourth quarter. Northern Trust Corp now owns 378,569 shares of the industrial products company's stock worth $2,112,000 after acquiring an additional 20,142 shares during the last quarter. Comerica Bank lifted its position in Hudson Technologies by 6,954.8% during the fourth quarter. Comerica Bank now owns 102,435 shares of the industrial products company's stock worth $572,000 after acquiring an additional 100,983 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in Hudson Technologies by 7.8% during the fourth quarter. Jane Street Group LLC now owns 86,131 shares of the industrial products company's stock worth $481,000 after acquiring an additional 6,263 shares during the last quarter. Institutional investors own 71.34% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on HDSN shares. Canaccord Genuity Group upgraded shares of Hudson Technologies from a "hold" rating to a "buy" rating and raised their price objective for the stock from $6.75 to $10.50 in a research report on Thursday, July 31st. B. Riley upgraded shares of Hudson Technologies from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $7.50 to $9.00 in a research report on Monday, June 16th. Finally, Wall Street Zen upgraded shares of Hudson Technologies from a "buy" rating to a "strong-buy" rating in a research report on Monday, September 8th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $8.63.

Hudson Technologies Stock Performance

Shares of NASDAQ HDSN traded down $0.15 during midday trading on Friday, reaching $10.16. The company's stock had a trading volume of 183,764 shares, compared to its average volume of 330,538. Hudson Technologies, Inc. has a fifty-two week low of $5.11 and a fifty-two week high of $10.45. The business's 50 day moving average price is $9.32 and its two-hundred day moving average price is $7.57. The company has a market cap of $443.69 million, a P/E ratio of 25.40 and a beta of 0.97.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $71.67 million. Sell-side 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.