Goldman Sachs Group Inc. Increases Stock Position in Hudson Technologies, Inc. $HDSN

Key Points

• Goldman Sachs Group Inc. increased its stake in Hudson Technologies by 49.1%, owning approximately 245,760 shares valued at $1,516,000 as of the end of the first quarter.
• Analysts have upgraded Hudson Technologies, with Canaccord Genuity raising its rating from "hold" to "buy" and increasing the price target from $6.75 to $10.50.
• Hudson Technologies reported a quarterly earnings per share (EPS) of $0.23, exceeding analysts' expectations, alongside revenue of $72.85 million, which also surpassed the projected $71.67 million.

Goldman Sachs Group Inc. boosted its holdings in shares of Hudson Technologies, Inc. (NASDAQ:HDSN - Free Report) by 49.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,760 shares of the industrial products company's stock after acquiring an additional 80,973 shares during the period. Goldman Sachs Group Inc. owned about 0.57% of Hudson Technologies worth $1,516,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the company. Voya Investment Management LLC boosted its holdings in shares of Hudson Technologies by 32.3% in the 1st quarter. Voya Investment Management LLC now owns 49,545 shares of the industrial products company's stock valued at $306,000 after buying an additional 12,110 shares in the last quarter. Strs Ohio acquired a new stake in Hudson Technologies during the 1st quarter valued at approximately $510,000. Dynamic Technology Lab Private Ltd acquired a new stake in Hudson Technologies during the 1st quarter valued at approximately $97,000. AQR Capital Management LLC lifted its stake in Hudson Technologies by 7.2% during the 1st quarter. AQR Capital Management LLC now owns 591,645 shares of the industrial products company's stock valued at $3,650,000 after acquiring an additional 39,654 shares during the period. Finally, EP Wealth Advisors LLC increased its holdings in shares of Hudson Technologies by 29.7% during the 1st quarter. EP Wealth Advisors LLC now owns 16,519 shares of the industrial products company's stock valued at $102,000 after purchasing an additional 3,785 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors.

Hudson Technologies Stock Down 0.6%

Hudson Technologies stock traded down $0.06 during mid-day trading on Tuesday, hitting $9.88. The company had a trading volume of 65,720 shares, compared to its average volume of 441,027. The stock has a market cap of $431.46 million, a price-to-earnings ratio of 24.70 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 fifty day moving average of $9.54 and a 200 day moving average of $7.79.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.23 EPS for the quarter, beating 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 analysts anticipate that Hudson Technologies, Inc. will post 0.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

HDSN has been the subject of several recent research reports. B. Riley raised 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 raised shares of Hudson Technologies from a "buy" rating to a "strong-buy" rating in a research note on Monday, September 8th. Finally, Canaccord Genuity Group raised shares of Hudson Technologies from a "hold" rating to a "buy" rating and upped their price objective 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 given a Hold rating to the company's stock. According to MarketBeat.com, Hudson Technologies currently has an average 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.