Cubist Systematic Strategies LLC Sells 114,428 Shares of 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 lessened its holdings in Hudson Technologies, Inc. (NASDAQ:HDSN - Free Report) by 58.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,152 shares of the industrial products company's stock after selling 114,428 shares during the quarter. Cubist Systematic Strategies LLC owned 0.19% of Hudson Technologies worth $507,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in HDSN. Hartree Partners LP bought a new position in shares of Hudson Technologies in the 1st quarter valued at about $22,046,000. D. E. Shaw & Co. Inc. boosted its position in Hudson Technologies by 282.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,345,553 shares of the industrial products company's stock valued at $7,508,000 after purchasing an additional 993,833 shares during the last quarter. Two Sigma Investments LP boosted its position in Hudson Technologies by 332.9% during the fourth quarter. Two Sigma Investments LP now owns 361,978 shares of the industrial products company's stock valued at $2,020,000 after purchasing an additional 278,352 shares during the last quarter. New South Capital Management Inc. grew its stake in Hudson Technologies by 12.3% in the first 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, BNP Paribas Financial Markets increased its position in shares of Hudson Technologies by 538.6% during the 4th quarter. BNP Paribas Financial Markets now owns 190,623 shares of the industrial products company's stock worth $1,064,000 after purchasing an additional 160,774 shares during the last quarter. Institutional investors own 71.34% of the company's stock.

Analyst Upgrades and Downgrades

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

Hudson Technologies Trading Down 1.3%

Shares of Hudson Technologies stock traded down $0.14 during trading on Tuesday, hitting $10.30. 398,017 shares of the stock were exchanged, compared to its average volume of 299,996. The stock has a market capitalization of $449.80 million, a price-to-earnings ratio of 25.75 and a beta of 0.97. The company has a fifty day moving average price of $9.40 and a 200-day moving average price of $7.65. Hudson Technologies, Inc. has a 1-year low of $5.11 and a 1-year high of $10.52.

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

About Hudson Technologies

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.