Hudson Technologies (NASDAQ:HDSN) Upgraded 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 analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

Other equities analysts also recently issued research reports about the company. Canaccord Genuity Group upgraded 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 report on Thursday, July 31st. Craig Hallum upgraded Hudson Technologies from a "hold" rating to a "buy" rating and set a $8.00 price objective for the company in a research report on Thursday, May 8th. Finally, B. Riley raised Hudson Technologies from a "neutral" rating to a "buy" rating and lifted their target price for the company from $7.50 to $9.00 in a research report on Monday, June 16th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $8.63.

Hudson Technologies Trading Down 0.3%

HDSN stock traded down $0.03 during trading on Friday, reaching $9.90. 531,013 shares of the stock were exchanged, compared to its average volume of 468,591. Hudson Technologies has a 1 year low of $5.11 and a 1 year high of $10.06. The firm has a market capitalization of $430.46 million, a price-to-earnings ratio of 24.75, a P/E/G ratio of 0.68 and a beta of 0.96. The business has a 50 day moving average price of $7.97 and a 200-day moving average price of $6.76.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.08. Hudson Technologies had a net margin of 8.08% and a return on equity of 7.30%. The business had revenue of $72.85 million for the quarter, compared to analysts' expectations of $71.67 million. On average, research analysts anticipate that Hudson Technologies will post 0.55 EPS for the current year.

Hedge Funds Weigh In On Hudson Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HDSN. Raymond James Financial Inc. acquired a new position in Hudson Technologies during the fourth quarter worth approximately $249,000. American Century Companies Inc. lifted its position in shares of Hudson Technologies by 13.0% in the fourth quarter. American Century Companies Inc. now owns 790,472 shares of the industrial products company's stock worth $4,411,000 after purchasing an additional 90,921 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Hudson Technologies in the fourth quarter valued at approximately $426,000. JPMorgan Chase & Co. boosted its stake in Hudson Technologies by 152.0% during the fourth quarter. JPMorgan Chase & Co. now owns 853,252 shares of the industrial products company's stock worth $4,761,000 after buying an additional 514,645 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Hudson Technologies in the fourth quarter valued at about $1,733,000. Institutional investors and hedge funds 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.