EdgeRock Capital LLC Takes $693,000 Position in Hudson Technologies, Inc. $HDSN

Key Points

• EdgeRock Capital LLC has acquired a $693,000 position in Hudson Technologies, purchasing 85,297 shares and holding about 0.20% of the company as of the end of the last quarter.
• Hudson Technologies reported earnings of $0.23 per share for the quarter, surpassing analyst expectations of $0.15, with revenues of $72.85 million compared to estimates of $71.67 million.
• Analysts have upgraded Hudson Technologies' stock, with recent ratings changing from "hold" to "buy," and a consensus target price now set at $8.63.

EdgeRock Capital LLC purchased a new position in Hudson Technologies, Inc. (NASDAQ:HDSN - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 85,297 shares of the industrial products company's stock, valued at approximately $693,000. EdgeRock Capital LLC owned about 0.20% of Hudson Technologies at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC bought a new position in Hudson Technologies during the 1st quarter worth $79,000. 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 purchasing 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 purchasing an additional 3,225 shares during the period. New South Capital Management Inc. lifted its holdings in Hudson Technologies by 12.3% in the 1st 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 acquiring an additional 162,002 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings 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 acquiring an additional 143,815 shares during the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Hudson Technologies Trading Up 0.7%

Hudson Technologies stock opened at $9.98 on Friday. The firm has a market capitalization of $435.83 million, a P/E ratio of 24.95 and a beta of 0.97. Hudson Technologies, Inc. has a 1 year low of $5.11 and a 1 year high of $10.52. The business has a 50-day moving average of $9.65 and a 200-day moving average of $7.85.

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

Analyst Upgrades and Downgrades

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

Hudson Technologies 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.

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