Pinnacle Associates Ltd. Sells 34,211 Shares of Hudson Technologies, Inc. (NASDAQ:HDSN)

Pinnacle Associates Ltd. lessened its holdings in Hudson Technologies, Inc. (NASDAQ:HDSN - Free Report) by 31.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,000 shares of the industrial products company's stock after selling 34,211 shares during the quarter. Pinnacle Associates Ltd. owned 0.17% of Hudson Technologies worth $463,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in HDSN. D. E. Shaw & Co. Inc. lifted its position in Hudson Technologies by 282.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,345,553 shares of the industrial products company's stock worth $7,508,000 after buying an additional 993,833 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Hudson Technologies by 152.0% in the 4th quarter. JPMorgan Chase & Co. now owns 853,252 shares of the industrial products company's stock valued at $4,761,000 after acquiring an additional 514,645 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Hudson Technologies during the 4th quarter worth approximately $1,733,000. 683 Capital Management LLC increased its stake in Hudson Technologies by 89.4% during the 4th quarter. 683 Capital Management LLC now owns 635,900 shares of the industrial products company's stock worth $3,548,000 after purchasing an additional 300,110 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in Hudson Technologies by 332.9% during the 4th quarter. Two Sigma Investments LP now owns 361,978 shares of the industrial products company's stock worth $2,020,000 after purchasing an additional 278,352 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HDSN. Craig Hallum raised shares of Hudson Technologies from a "hold" rating to a "buy" rating and set a $8.00 price target for the company in a research note on Thursday, May 8th. Canaccord Genuity Group raised Hudson Technologies from a "hold" rating to a "buy" rating and raised their price target for the company from $6.75 to $10.50 in a report on Thursday. Finally, B. Riley raised Hudson Technologies from a "neutral" rating to a "buy" rating and raised their price target for the company from $7.50 to $9.00 in a report on Monday, June 16th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $8.63.

Hudson Technologies Trading Up 1.5%

HDSN stock traded up $0.14 during trading on Friday, hitting $9.53. The company had a trading volume of 500,936 shares, compared to its average volume of 460,713. The stock has a market cap of $414.32 million, a PE ratio of 23.75, a PEG ratio of 0.76 and a beta of 0.94. The business has a 50-day moving average of $7.87 and a 200-day moving average of $6.70. Hudson Technologies, Inc. has a one year low of $5.11 and a one year high of $9.70.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.08. The firm had revenue of $72.85 million for the quarter, compared to analysts' expectations of $71.67 million. Hudson Technologies had a return on equity of 7.30% and a net margin of 8.08%. Research analysts forecast that Hudson Technologies, Inc. will post 0.55 EPS for the current year.

Hudson Technologies Company 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.