Hudson Technologies (NASDAQ:HDSN) Rating Increased to Buy at Wall Street Zen

Key Points

• Hudson Technologies has been upgraded to a "buy" rating by Wall Street Zen, following similar upgrades from other analysts, indicating positive sentiment towards the stock.
• The stock is currently trading at approximately $9.55 with a market cap of $415.23 million and shows a favorable consensus price target of $8.63.
• Recently reported earnings exceeded expectations, with a quarterly EPS of $0.23, showcasing strong performance relative to analyst forecasts.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

A number of other research firms have also weighed in on HDSN. Craig Hallum raised 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. B. Riley raised Hudson Technologies from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $7.50 to $9.00 in a research report on Monday, June 16th. Finally, Canaccord Genuity Group raised Hudson Technologies from a "hold" rating to a "buy" rating and upped their price objective for the stock from $6.75 to $10.50 in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $8.63.

Hudson Technologies Stock Down 1.2%

NASDAQ:HDSN traded down $0.12 during trading hours on Friday, reaching $9.79. 146,250 shares of the stock were exchanged, compared to its average volume of 466,345. The business has a 50-day moving average of $8.03 and a two-hundred day moving average of $6.78. Hudson Technologies has a twelve month low of $5.11 and a twelve month high of $10.06. The company has a market capitalization of $427.31 million, a price-to-earnings ratio of 24.46, a PEG ratio of 0.71 and a beta of 0.96.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last released its quarterly 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. Hudson Technologies had a return on equity of 7.26% and a net margin of 8.08%. The company had revenue of $72.85 million for the quarter, compared to analysts' expectations of $71.67 million. On average, research analysts forecast that Hudson Technologies will post 0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Hudson Technologies

Several hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in shares of Hudson Technologies by 111.8% during the first quarter. GAMMA Investing LLC now owns 4,970 shares of the industrial products company's stock worth $31,000 after purchasing an additional 2,624 shares during the last quarter. Quarry LP grew its holdings in shares of Hudson Technologies by 89.1% during the fourth quarter. Quarry LP now owns 8,840 shares of the industrial products company's stock worth $49,000 after purchasing an additional 4,165 shares during the last quarter. State of Wyoming purchased a new position in shares of Hudson Technologies during the fourth quarter worth about $53,000. ProShare Advisors LLC purchased a new position in shares of Hudson Technologies during the fourth quarter worth about $70,000. Finally, EP Wealth Advisors LLC purchased a new position in shares of Hudson Technologies during the fourth quarter worth about $71,000. 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.