Hudson Technologies, Inc. (NASDAQ:HDSN) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Hudson Technologies has received a consensus rating of "Moderate Buy" from analysts, with an average target price of $8.63 over the next 12 months.
• Several research firms have upgraded Hudson Technologies' stock from "hold" to "buy," with Canaccord Genuity increasing its target price sharply from $6.75 to $10.50.
• The company's stock recently opened at $9.55 and has shown significant performance, reaching a 52-week high of $9.70 and reporting earnings of $0.23 per share, exceeding expectations.

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

Several research firms recently commented on HDSN. B. Riley raised shares of Hudson Technologies from a "neutral" rating to a "buy" rating and increased their target price for the company from $7.50 to $9.00 in a research note on Monday, June 16th. Craig Hallum upgraded shares of Hudson Technologies from a "hold" rating to a "buy" rating and set a $8.00 price objective on the stock in a research note on Thursday, May 8th. Canaccord Genuity Group upgraded shares of Hudson Technologies from a "hold" rating to a "buy" rating and upped their price objective for the company from $6.75 to $10.50 in a research note on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of Hudson Technologies from a "hold" rating to a "buy" rating in a research note on Saturday.

Hudson Technologies Stock Performance

Shares of NASDAQ:HDSN traded down $0.03 during trading on Friday, reaching $9.90. The company had a trading volume of 531,013 shares, compared to its average volume of 468,593. The firm's fifty day moving average is $7.97 and its 200 day moving average is $6.76. The firm has a market capitalization of $430.46 million, a PE ratio of 24.75, a price-to-earnings-growth ratio of 0.68 and a beta of 0.96. Hudson Technologies has a twelve month low of $5.11 and a twelve month high of $10.06.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.08. Hudson Technologies had a net margin of 8.08% and a return on equity of 7.30%. The company had revenue of $72.85 million during the quarter, compared to analyst estimates of $71.67 million. Equities analysts predict that Hudson Technologies will post 0.55 earnings per share for the current fiscal year.

Institutional Trading of Hudson Technologies

Several large investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Hudson Technologies in the 4th quarter valued at $249,000. American Century Companies Inc. raised its stake in shares of Hudson Technologies by 13.0% in the 4th quarter. American Century Companies Inc. now owns 790,472 shares of the industrial products company's stock valued at $4,411,000 after buying an additional 90,921 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Hudson Technologies in the 4th quarter valued at $426,000. JPMorgan Chase & Co. increased its position in shares of Hudson Technologies by 152.0% during the 4th quarter. JPMorgan Chase & Co. now owns 853,252 shares of the industrial products company's stock worth $4,761,000 after purchasing an additional 514,645 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Hudson Technologies during the 4th quarter worth about $1,733,000. 71.34% of the stock is owned by institutional investors.

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.