Hudson Technologies (NASDAQ:HDSN) Downgraded to "Buy" Rating by Wall Street Zen

Key Points

• Hudson Technologies was downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, indicating a shift in analyst sentiment about the company.
• The stock currently holds an average rating of "Moderate Buy" with a consensus target price of $8.63, despite recent upgrades from multiple brokerages.
• Hudson Technologies reported earnings per share (EPS) of $0.23 for the last quarter, surpassing analysts' expectations and generating revenue of $72.85 million.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued on Sunday.

A number of other equities research analysts have also recently commented on the company. B. Riley raised Hudson Technologies from a "neutral" rating to a "buy" rating and raised their price target for the company from $7.50 to $9.00 in a report on Monday, June 16th. Craig Hallum raised Hudson Technologies from a "hold" rating to a "buy" rating and set a $8.00 price target on the stock in a report on Thursday, May 8th. Finally, Canaccord Genuity Group raised Hudson Technologies from a "hold" rating to a "buy" rating and raised their price target for the company from $6.75 to $10.50 in a report on Thursday, July 31st. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $8.63.

Hudson Technologies Trading Down 0.2%

Hudson Technologies stock traded down $0.03 during trading on Friday, reaching $10.24. The company had a trading volume of 81,272 shares, compared to its average volume of 457,837. Hudson Technologies has a 52 week low of $5.11 and a 52 week high of $10.45. The firm's 50-day simple moving average is $8.98 and its 200 day simple moving average is $7.34. The firm has a market capitalization of $446.96 million, a price-to-earnings ratio of 25.62 and a beta of 0.97.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC purchased a new position in Hudson Technologies in the first quarter worth about $79,000. Sequoia Financial Advisors LLC grew its position in Hudson Technologies by 24.2% in the first quarter. Sequoia Financial Advisors LLC now owns 16,525 shares of the industrial products company's stock worth $102,000 after acquiring an additional 3,225 shares in the last quarter. GAMMA Investing LLC grew its position in Hudson Technologies by 111.8% in the first quarter. GAMMA Investing LLC now owns 4,970 shares of the industrial products company's stock worth $31,000 after acquiring an additional 2,624 shares in the last quarter. New South Capital Management Inc. grew its position in Hudson Technologies by 12.3% in the first quarter. New South Capital Management Inc. now owns 1,483,719 shares of the industrial products company's stock worth $9,155,000 after acquiring an additional 162,002 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in Hudson Technologies by 147.8% in the fourth quarter. Two Sigma Advisers LP now owns 234,400 shares of the industrial products company's stock worth $1,308,000 after acquiring an additional 139,800 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

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.