Hudson Technologies, Inc. (NASDAQ:HDSN) Sees Significant Drop in Short Interest

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) saw a large drop in short interest in August. As of August 15th, there was short interest totaling 1,200,000 shares, a drop of 21.1% from the July 31st total of 1,520,000 shares. Currently, 3.1% of the shares of the stock are short sold. Based on an average daily volume of 421,200 shares, the short-interest ratio is currently 2.8 days. Based on an average daily volume of 421,200 shares, the short-interest ratio is currently 2.8 days. Currently, 3.1% of the shares of the stock are short sold.

Hudson Technologies Trading Down 2.5%

HDSN traded down $0.26 on Tuesday, hitting $10.05. The company had a trading volume of 192,494 shares, compared to its average volume of 453,292. The company's fifty day moving average price is $9.16 and its 200 day moving average price is $7.48. Hudson Technologies has a 1 year low of $5.11 and a 1 year high of $10.45. The firm has a market cap of $438.86 million, a P/E ratio of 25.13 and a beta of 0.97.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.08. Hudson Technologies had a net margin of 8.08% and a return on equity of 7.26%. The business had revenue of $72.85 million during the quarter, compared to analysts' expectations of $71.67 million. On average, analysts predict that Hudson Technologies will post 0.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HDSN. Canaccord Genuity Group upgraded shares of Hudson Technologies from a "hold" rating to a "buy" rating and increased their target price 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 research note on Monday. Finally, B. Riley raised Hudson Technologies from a "neutral" rating to a "buy" rating and increased their price target for the company from $7.50 to $9.00 in a report on Monday, June 16th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.63.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Hudson Technologies in the fourth quarter valued at approximately $249,000. First Trust Advisors LP acquired a new position in shares of Hudson Technologies in the fourth quarter worth $129,000. Price T Rowe Associates Inc. MD increased its position in shares of Hudson Technologies by 20.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,192 shares of the industrial products company's stock worth $219,000 after acquiring an additional 6,673 shares during the period. Voya Investment Management LLC boosted its holdings in Hudson Technologies by 22.4% in the fourth quarter. Voya Investment Management LLC now owns 37,435 shares of the industrial products company's stock valued at $209,000 after purchasing an additional 6,839 shares during the period. Finally, Northern Trust Corp grew its stake in Hudson Technologies by 5.6% during the 4th quarter. Northern Trust Corp now owns 378,569 shares of the industrial products company's stock worth $2,112,000 after purchasing an additional 20,142 shares in the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

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.

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