Short Interest in Hudson Technologies, Inc. (NASDAQ:HDSN) Drops By 21.1%

Key Points

• Hudson Technologies, Inc. experienced a significant decrease in short interest, dropping by 21.1% in August to a total of 1.2 million shares short sold.
• The company reported $0.23 earnings per share for the last quarter, exceeding analysts' expectations of $0.15, while revenue totaled $72.85 million.
• Analysts have upgraded Hudson Technologies’ rating to “buy” and even “strong-buy”, with a new target price increasing from $6.75 to $10.50.

Hudson Technologies, Inc. (NASDAQ:HDSN - Get Free Report) was the target of a large decrease in short interest in August. As of August 15th, there was short interest totaling 1,200,000 shares, a decrease of 21.1% from the July 31st total of 1,520,000 shares. Currently, 3.1% of the company's stock are sold short. Based on an average daily volume of 421,200 shares, the days-to-cover ratio is currently 2.8 days. Based on an average daily volume of 421,200 shares, the days-to-cover ratio is currently 2.8 days. Currently, 3.1% of the company's stock are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on HDSN shares. B. Riley upgraded shares of Hudson Technologies from a "neutral" rating to a "buy" rating and upped their target price for the company from $7.50 to $9.00 in a research note on Monday, June 16th. Canaccord Genuity Group upgraded shares of Hudson Technologies from a "hold" rating to a "buy" rating and increased their price objective for the stock 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 "buy" rating to a "strong-buy" rating in a research note on Monday, September 8th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Hudson Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $8.63.

Institutional Investors Weigh In On Hudson Technologies

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Hudson Technologies by 111.8% in the first quarter. GAMMA Investing LLC now owns 4,970 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 2,624 shares during the period. State of Wyoming acquired a new stake in shares of Hudson Technologies in the fourth quarter valued at approximately $53,000. ProShare Advisors LLC acquired a new stake in shares of Hudson Technologies in the fourth quarter valued at approximately $70,000. EP Wealth Advisors LLC acquired a new stake in shares of Hudson Technologies in the fourth quarter valued at approximately $71,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Hudson Technologies by 177.6% in the second quarter. Tower Research Capital LLC TRC now owns 8,715 shares of the industrial products company's stock valued at $71,000 after purchasing an additional 5,576 shares during the period. Institutional investors and hedge funds own 71.34% of the company's stock.

Hudson Technologies Trading Down 1.5%

HDSN traded down $0.15 on Friday, hitting $10.16. 183,764 shares of the company's stock were exchanged, compared to its average volume of 330,538. The firm has a market cap of $443.69 million, a PE ratio of 25.40 and a beta of 0.97. Hudson Technologies has a twelve month low of $5.11 and a twelve month high of $10.45. The stock has a fifty day moving average of $9.32 and a two-hundred day moving average of $7.58.

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 company had revenue of $72.85 million for the quarter, compared to analyst estimates of $71.67 million. On average, analysts predict that Hudson Technologies will post 0.55 EPS for the current year.

Hudson Technologies Company Profile

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.