Renaissance Technologies LLC Sells 193,000 Shares of Hudson Technologies, Inc. $HDSN

Key Points

• Renaissance Technologies cut its Hudson Technologies stake by 11.4%, selling 193,000 shares and retaining 1.50 million shares worth approximately $8.85 million, or 3.58% of the company. Institutional investors collectively own 71.34% of HDSN.
• Insiders showed significant buying activity, with company insiders purchasing 919,940 shares valued at about $5.37 million during the latest quarter. Two directors separately bought roughly $25,000 worth of shares each in May.
• Analyst sentiment remains mixed but broadly cautious: HDSN carries an average “Hold” rating and an $8.88 price target. The company recently missed quarterly EPS estimates, reporting $0.01 versus the expected $0.05, despite revenue exceeding forecasts.

Renaissance Technologies LLC decreased its position in Hudson Technologies, Inc. (NASDAQ:HDSN - Free Report) by 11.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,504,250 shares of the industrial products company's stock after selling 193,000 shares during the period. Renaissance Technologies LLC owned approximately 3.58% of Hudson Technologies worth $8,845,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Quarry LP lifted its holdings in Hudson Technologies by 51.9% during the third quarter. Quarry LP now owns 5,281 shares of the industrial products company's stock worth $52,000 after acquiring an additional 1,805 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Hudson Technologies by 2.2% in the first quarter. First Trust Advisors LP now owns 145,083 shares of the industrial products company's stock worth $853,000 after acquiring an additional 3,105 shares in the last quarter. Graham Capital Management L.P. increased its holdings in shares of Hudson Technologies by 9.7% in the fourth quarter. Graham Capital Management L.P. now owns 36,985 shares of the industrial products company's stock worth $253,000 after acquiring an additional 3,256 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Hudson Technologies by 88.3% during the third quarter. BNP Paribas Financial Markets now owns 7,530 shares of the industrial products company's stock worth $75,000 after purchasing an additional 3,532 shares during the period. Finally, Campbell & CO Investment Adviser LLC raised its position in shares of Hudson Technologies by 7.2% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 52,762 shares of the industrial products company's stock worth $361,000 after purchasing an additional 3,544 shares during the period. Institutional investors own 71.34% of the company's stock.

Insider Buying and Selling at Hudson Technologies

In other Hudson Technologies news, Director Jeffrey R. Feeler purchased 5,100 shares of the firm's stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $4.92 per share, with a total value of $25,092.00. Following the purchase, the director directly owned 9,165 shares of the company's stock, valued at $45,091.80. The trade was a 125.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alan Sheriff purchased 5,200 shares of the firm's stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average cost of $4.88 per share, with a total value of $25,376.00. Following the completion of the purchase, the director directly owned 9,265 shares in the company, valued at approximately $45,213.20. This represents a 127.92% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 919,940 shares of company stock worth $5,374,186. Corporate insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HDSN. Canaccord Genuity Group decreased their price objective on Hudson Technologies from $9.50 to $9.00 and set a "buy" rating for the company in a research report on Thursday, May 7th. Weiss Ratings upgraded shares of Hudson Technologies from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, July 23rd. Finally, Wall Street Zen lowered shares of Hudson Technologies from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $8.88.

Hudson Technologies Price Performance

HDSN opened at $6.04 on Monday. The company has a market capitalization of $254.10 million, a price-to-earnings ratio of 19.48 and a beta of 0.78. The business's 50-day moving average price is $5.81 and its two-hundred day moving average price is $6.21. Hudson Technologies, Inc. has a 1 year low of $4.64 and a 1 year high of $10.52.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). The firm had revenue of $60.15 million for the quarter, compared to analyst estimates of $57.15 million. Hudson Technologies had a return on equity of 6.98% and a net margin of 5.66%. Sell-side analysts anticipate that Hudson Technologies, Inc. will post 0.34 earnings per share for the current fiscal year.

Hudson Technologies Profile

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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