Martingale Asset Management L P Purchases 33,560 Shares of Hudson Technologies, Inc. $HDSN

Key Points

• Martingale Asset Management L P increased its position in Hudson Technologies by 176.2% during the first quarter, reaching a total of 52,604 shares valued at $325,000.
• Hudson Technologies reported earnings per share of $0.23 for its last quarter, exceeding analysts' expectations of $0.15, with revenue also above estimates at $72.85 million.
• Several research analysts have upgraded Hudson Technologies, with ratings increasing from "hold" to "buy" and "strong-buy", reflecting positive sentiment about its stock performance and a target price set at $8.63.

Martingale Asset Management L P lifted its position in shares of Hudson Technologies, Inc. (NASDAQ:HDSN - Free Report) by 176.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,604 shares of the industrial products company's stock after purchasing an additional 33,560 shares during the quarter. Martingale Asset Management L P owned 0.12% of Hudson Technologies worth $325,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Hudson Technologies during the first quarter worth approximately $79,000. Sequoia Financial Advisors LLC raised its position in shares of Hudson Technologies by 24.2% during 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. GAMMA Investing LLC raised its position in shares of Hudson Technologies by 111.8% during 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. New South Capital Management Inc. raised its position in shares of Hudson Technologies by 12.3% during the first quarter. New South Capital Management Inc. now owns 1,483,719 shares of the industrial products company's stock worth $9,155,000 after purchasing an additional 162,002 shares during the period. Finally, Two Sigma Advisers LP raised its position in shares of Hudson Technologies by 147.8% during the fourth quarter. Two Sigma Advisers LP now owns 234,400 shares of the industrial products company's stock worth $1,308,000 after purchasing an additional 139,800 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

Hudson Technologies Trading Down 1.2%

Shares of HDSN stock traded down $0.12 on Friday, hitting $10.16. 314,419 shares of the stock were exchanged, compared to its average volume of 466,686. The firm has a market capitalization of $443.69 million, a PE ratio of 25.40, a P/E/G ratio of 0.73 and a beta of 0.96. Hudson Technologies, Inc. has a one year low of $5.11 and a one year high of $10.34. The firm's 50 day moving average is $8.89 and its two-hundred day moving average is $7.28.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $71.67 million. Hudson Technologies had a return on equity of 7.26% and a net margin of 8.08%. On average, sell-side analysts expect that Hudson Technologies, Inc. will post 0.55 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HDSN. Wall Street Zen lowered Hudson Technologies from a "strong-buy" rating to a "buy" rating in a research report on Sunday. B. Riley raised Hudson Technologies from a "neutral" rating to a "buy" rating and raised their target price for the company from $7.50 to $9.00 in a research report on Monday, June 16th. Canaccord Genuity Group raised Hudson Technologies from a "hold" rating to a "buy" rating and raised their target price for the company from $6.75 to $10.50 in a research report on Thursday, July 31st. Finally, Craig Hallum raised Hudson Technologies from a "hold" rating to a "buy" rating and set a $8.00 target price for the company in a research report on Thursday, May 8th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently 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.