Hudson Technologies, Inc. (NASDAQ:HDSN) Receives $8.63 Consensus Target Price from Analysts

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.

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

Several research firms have recently weighed in on HDSN. B. Riley upgraded shares of Hudson Technologies from a "neutral" rating to a "buy" rating and raised their price objective 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 report on Saturday. Canaccord Genuity Group upgraded shares of 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 research report on Thursday, July 31st. Finally, 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 report on Thursday, May 8th.

Hedge Funds Weigh In On Hudson Technologies

A number of large investors have recently added to or reduced their stakes in HDSN. Raymond James Financial Inc. purchased a new position in Hudson Technologies in the 4th quarter worth $249,000. American Century Companies Inc. increased its position in shares of Hudson Technologies by 13.0% in the fourth quarter. American Century Companies Inc. now owns 790,472 shares of the industrial products company's stock valued at $4,411,000 after acquiring an additional 90,921 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Hudson Technologies in the fourth quarter valued at about $426,000. JPMorgan Chase & Co. increased its position in shares of Hudson Technologies by 152.0% in the fourth 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 period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Hudson Technologies in the fourth quarter valued at about $1,733,000. Hedge funds and other institutional investors own 71.34% of the company's stock.

Hudson Technologies Price Performance

NASDAQ:HDSN traded down $0.10 during trading hours on Friday, hitting $9.80. The stock had a trading volume of 162,161 shares, compared to its average volume of 466,474. The company has a 50 day simple moving average of $8.03 and a two-hundred day simple moving average of $6.78. Hudson Technologies has a one year low of $5.11 and a one year high of $10.06. The firm has a market capitalization of $427.97 million, a price-to-earnings ratio of 24.51, a P/E/G ratio of 0.71 and a beta of 0.96.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.23 EPS for the quarter, beating 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 the consensus estimate of $71.67 million. Equities research analysts anticipate that Hudson Technologies 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.