Victory Capital Management Inc. Boosts Stake in Hudson Technologies, Inc. (NASDAQ:HDSN)

Key Points

• Victory Capital Management Inc. increased its stake in Hudson Technologies by 41%, owning approximately 102,308 shares worth $631,000 as of the most recent reporting period.
• Hudson Technologies received multiple upgrades from analysts, with target prices ranging from $8.00 to $10.50, leading to an average rating of "Moderate Buy" and a price target of $8.63.
• The company's latest earnings report showed an EPS of $0.23, surpassing estimates, with revenue of $72.85 million compared to expectations of $71.67 million.

Victory Capital Management Inc. raised its stake in Hudson Technologies, Inc. (NASDAQ:HDSN - Free Report) by 41.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 102,308 shares of the industrial products company's stock after buying an additional 29,756 shares during the period. Victory Capital Management Inc. owned about 0.23% of Hudson Technologies worth $631,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. D. E. Shaw & Co. Inc. grew its stake in Hudson Technologies by 282.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,345,553 shares of the industrial products company's stock worth $7,508,000 after purchasing an additional 993,833 shares during the period. JPMorgan Chase & Co. increased its stake in Hudson Technologies by 152.0% during the 4th quarter. JPMorgan Chase & Co. now owns 853,252 shares of the industrial products company's stock valued at $4,761,000 after purchasing an additional 514,645 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Hudson Technologies in the 4th quarter worth about $1,733,000. 683 Capital Management LLC lifted its holdings in shares of Hudson Technologies by 89.4% in the fourth quarter. 683 Capital Management LLC now owns 635,900 shares of the industrial products company's stock valued at $3,548,000 after purchasing an additional 300,110 shares in the last quarter. Finally, Two Sigma Investments LP boosted its holdings 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 acquiring an additional 278,352 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. 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. Wall Street Zen upgraded shares of Hudson Technologies from a "hold" rating to a "buy" rating in a research note on Saturday. Craig Hallum upgraded shares of 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. Finally, Canaccord Genuity Group raised Hudson Technologies from a "hold" rating to a "buy" rating and raised their price objective for the company from $6.75 to $10.50 in a report on Thursday, July 31st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Hudson Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.63.

Hudson Technologies Stock Performance

Shares of Hudson Technologies stock traded down $0.12 on Tuesday, hitting $9.82. 178,905 shares of the company traded hands, compared to its average volume of 466,170. The stock has a market capitalization of $426.77 million, a P/E ratio of 24.49, a price-to-earnings-growth ratio of 0.68 and a beta of 0.96. The business has a 50-day simple moving average of $7.97 and a 200 day simple moving average of $6.76. Hudson Technologies, Inc. has a 52 week low of $5.11 and a 52 week high of $10.06.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.23 earnings per share 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 return on equity of 7.30% and a net margin of 8.08%. Research analysts expect that Hudson Technologies, Inc. will post 0.55 earnings per share for the current year.

About Hudson Technologies

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.