Hudson Technologies (NASDAQ:HDSN) Announces Earnings Results

Key Points

• Hudson Technologies reported earnings of $0.23 EPS for the quarter, surpassing the consensus estimate of $0.15 by $0.08, alongside a return on equity of 7.07% and a net margin of 7.74%.
• The company's stock has seen a decline of 3.0%, trading at $8.32, with a market cap of $361.75 million and an average price target of $7.69 from analysts.
• Institutional investors own 71.34% of Hudson Technologies, with significant recent stake increases by firms like Goldman Sachs and AQR Capital Management.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) announced its quarterly earnings results on Wednesday. The industrial products company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.08, Zacks reports. The company had revenue of $72.85 million during the quarter, compared to the consensus estimate of $71.67 million. Hudson Technologies had a net margin of 8.08% and a return on equity of 7.30%.

Hudson Technologies Stock Performance

HDSN traded up $0.16 during trading on Friday, hitting $9.55. The stock had a trading volume of 1,052,772 shares, compared to its average volume of 405,298. The company has a market capitalization of $415.23 million, a PE ratio of 23.88, a PEG 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 $9.70. The stock has a 50 day simple moving average of $7.92 and a two-hundred day simple moving average of $6.73.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in HDSN. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Hudson Technologies in the first quarter worth $97,000. AQR Capital Management LLC grew its position in shares of Hudson Technologies by 7.2% in the first quarter. AQR Capital Management LLC now owns 591,645 shares of the industrial products company's stock valued at $3,650,000 after purchasing an additional 39,654 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Hudson Technologies by 49.1% in the first quarter. Goldman Sachs Group Inc. now owns 245,760 shares of the industrial products company's stock valued at $1,516,000 after purchasing an additional 80,973 shares during the period. Hedge funds and other institutional investors own 71.34% of the company's stock.

Wall Street Analyst Weigh In

HDSN has been the topic of several research analyst reports. 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. Craig Hallum upgraded shares of Hudson Technologies from a "hold" rating to a "buy" rating and set a $8.00 price target 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 target price for the company from $6.75 to $10.50 in a research report on Thursday. Finally, Wall Street Zen upgraded shares of Hudson Technologies from a "hold" rating to a "buy" rating in a research note on Saturday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.63.

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.