Hudson Technologies, Inc. (NASDAQ:HDSN) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Hudson Technologies, Inc. has received a consensus recommendation of "Moderate Buy" from analysts, with two hold and three buy ratings, and an average target price of $8.63.
• The company reported an earnings per share (EPS) of $0.23 for the last quarter, surpassing the consensus estimate by $0.08, while revenues also exceeded expectations at $72.85 million.
• Recently, hedge fund activity has increased, with GAMMA Investing LLC raising its stake by 111.8% and overall institutional ownership reaching 71.34%.

Shares of Hudson Technologies, Inc. (NASDAQ:HDSN - Get Free Report) have earned an average rating of "Moderate Buy" from the five ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $8.6250.

Several equities analysts have recently weighed in on the stock. Canaccord Genuity Group raised shares of Hudson Technologies from a "hold" rating to a "buy" rating and increased their price objective for the company from $6.75 to $10.50 in a research report on Thursday, July 31st. Wall Street Zen raised shares of Hudson Technologies from a "buy" rating to a "strong-buy" rating in a report on Monday, September 8th. Finally, B. Riley raised Hudson Technologies from a "neutral" rating to a "buy" rating and increased their price objective for the company from $7.50 to $9.00 in a research note on Monday, June 16th.

Hudson Technologies Stock Down 0.4%

Shares of HDSN traded down $0.04 during mid-day trading on Friday, reaching $9.90. 74,373 shares of the company's stock were exchanged, compared to its average volume of 441,092. The company has a market cap of $432.33 million, a price-to-earnings ratio of 24.73 and a beta of 0.97. Hudson Technologies has a 52-week low of $5.11 and a 52-week high of $10.52. The company has a 50-day simple moving average of $9.54 and a two-hundred day simple moving average of $7.79.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.15 by $0.08. Hudson Technologies had a net margin of 8.08% and a return on equity of 7.26%. The firm had revenue of $72.85 million during the quarter, compared to analysts' expectations of $71.67 million. As a group, equities research analysts predict that Hudson Technologies will post 0.55 EPS for the current fiscal year.

Institutional Trading of Hudson Technologies

A number of hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its position in shares of Hudson Technologies by 177.6% during the second quarter. Tower Research Capital LLC TRC now owns 8,715 shares of the industrial products company's stock worth $71,000 after buying an additional 5,576 shares during the period. Lazard Asset Management LLC increased its holdings in shares of Hudson Technologies by 1,309.6% during the 2nd quarter. Lazard Asset Management LLC now owns 80,811 shares of the industrial products company's stock worth $656,000 after purchasing an additional 75,078 shares during the period. Bridgeway Capital Management LLC grew its stake in Hudson Technologies by 7.1% during the second quarter. Bridgeway Capital Management LLC now owns 297,112 shares of the industrial products company's stock worth $2,413,000 after buying an additional 19,700 shares during the last quarter. Brevan Howard Capital Management LP acquired a new position in Hudson Technologies in the second quarter valued at approximately $139,000. Finally, Bank of America Corp DE grew its position in Hudson Technologies by 216.1% in the second quarter. Bank of America Corp DE now owns 174,682 shares of the industrial products company's stock valued at $1,418,000 after purchasing an additional 119,413 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

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.