Empowered Funds LLC Takes $1.18 Million Position in Hudson Technologies, Inc. $HDSN

Key Points

• Empowered Funds LLC acquired 205,878 Hudson Technologies shares worth approximately $1.18 million, representing a 0.49% stake. Institutional investors collectively own 71.34% of the company.
• Hudson Technologies reported quarterly revenue of $78.35 million, exceeding expectations, but earnings per share of $0.12 fell short of the $0.18 analyst consensus.
• HDSN shares opened at $5.35, while analysts maintain an overall “Hold” rating with an average price target of $8.62; recent ratings included both price-target reductions and downgrades to “Sell.”

Empowered Funds LLC purchased a new position in Hudson Technologies, Inc. (NASDAQ:HDSN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 205,878 shares of the industrial products company's stock, valued at approximately $1,182,000. Empowered Funds LLC owned 0.49% of Hudson Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Hudson Technologies during the second quarter worth about $16,303,000. Westerly Capital Management LLC boosted its position in shares of Hudson Technologies by 63.3% during the 2nd quarter. Westerly Capital Management LLC now owns 2,000,000 shares of the industrial products company's stock valued at $16,240,000 after acquiring an additional 775,000 shares during the last quarter. Segall Bryant & Hamill LLC grew its holdings in shares of Hudson Technologies by 248.4% during the first quarter. Segall Bryant & Hamill LLC now owns 628,341 shares of the industrial products company's stock worth $3,695,000 after purchasing an additional 447,987 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Hudson Technologies by 270.4% during the fourth quarter. Marshall Wace LLP now owns 465,130 shares of the industrial products company's stock worth $3,186,000 after purchasing an additional 339,543 shares in the last quarter. Finally, JB Capital Partners LP bought a new position in shares of Hudson Technologies in the second quarter worth approximately $1,757,588. Hedge funds and other institutional investors own 71.34% of the company's stock.

Hudson Technologies Price Performance

Shares of HDSN stock opened at $5.35 on Friday. The business has a 50-day moving average of $5.86 and a 200 day moving average of $5.92. Hudson Technologies, Inc. has a 1-year low of $4.64 and a 1-year high of $10.52. The stock has a market capitalization of $225.18 million, a PE ratio of 26.75 and a beta of 0.77.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.06). Hudson Technologies had a net margin of 3.51% and a return on equity of 4.95%. The company had revenue of $78.35 million for the quarter, compared to analysts' expectations of $74.20 million. Analysts anticipate that Hudson Technologies, Inc. will post 0.17 EPS for the current year.

Insider Transactions at Hudson Technologies

In other news, major shareholder Hartree Partners, Lp acquired 5,317 shares of the firm's stock in a transaction on Wednesday, September 2nd. The shares were purchased at an average price of $5.10 per share, for a total transaction of $27,116.70. Following the completion of the transaction, the insider owned 5,205,317 shares of the company's stock, valued at $26,547,116.70. The trade was a 0.10% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have acquired 998,217 shares of company stock valued at $5,822,138. 1.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group dropped their target price on shares of Hudson Technologies from $9.00 to $8.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Wall Street Zen cut shares of Hudson Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Finally, Weiss Ratings downgraded shares of Hudson Technologies from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Hudson Technologies currently has an average rating of "Hold" and an average price target of $8.62.

About Hudson Technologies

Hudson Technologies, Inc is a U.S.-based provider of refrigerant management and sustainability solutions, specializing in the recovery, reclamation and recycling of refrigerant gases. The company's core business centers on collecting used refrigerants—such as CFCs, HCFCs and HFCs—from industrial, commercial and institutional customers, processing them in certified reclamation facilities and returning material that meets industry purity standards.

Headquartered in Purchase, New York, Hudson Technologies operates a network of reclamation centers across the continental United States.

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