Hudson Technologies (NASDAQ:HDSN) Rating Lowered to "Hold" at Zacks Research

Key Points

• Hudson Technologies has been downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating, reflecting changing perceptions among analysts about the company's prospects.
• Despite the downgrade, other analysts have recently raised their ratings, with Wall Street Zen promoting it to "strong-buy" and Canaccord Genuity increasing the price target from $6.75 to $10.50.
• The company's latest quarterly earnings showcased positive performance with an EPS of $0.23, surpassing forecasts, and revenue of $72.85 million, indicating solid market activity.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Several other research analysts have also commented on the stock. Wall Street Zen raised shares of Hudson Technologies from a "buy" rating to a "strong-buy" rating in a report on Monday, September 8th. Canaccord Genuity Group raised shares of Hudson Technologies from a "hold" rating to a "buy" rating and lifted their price target for the company from $6.75 to $10.50 in a report on Thursday, July 31st. Finally, B. Riley raised shares of Hudson Technologies from a "neutral" rating to a "buy" rating and lifted their price target for the company from $7.50 to $9.00 in a report on Monday, June 16th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $8.63.

Hudson Technologies Price Performance

Shares of HDSN stock opened at $9.93 on Monday. The firm has a market cap of $433.64 million, a P/E ratio of 24.83 and a beta of 0.97. Hudson Technologies has a 1-year low of $5.11 and a 1-year high of $10.52. The firm has a fifty day moving average of $9.75 and a two-hundred day moving average of $7.94.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.23 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $71.67 million. On average, sell-side analysts expect that Hudson Technologies will post 0.55 EPS for the current year.

Institutional Trading of Hudson Technologies

Hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new stake in Hudson Technologies in the 1st quarter valued at about $79,000. GAMMA Investing LLC raised its position in shares of Hudson Technologies by 111.8% during the 1st quarter. GAMMA Investing LLC now owns 4,970 shares of the industrial products company's stock worth $31,000 after buying an additional 2,624 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Hudson Technologies by 24.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 16,525 shares of the industrial products company's stock worth $102,000 after buying an additional 3,225 shares in the last quarter. New South Capital Management Inc. raised its position in shares of Hudson Technologies by 12.3% during the 1st quarter. New South Capital Management Inc. now owns 1,483,719 shares of the industrial products company's stock worth $9,155,000 after buying an additional 162,002 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Hudson Technologies by 354.3% during the 4th quarter. Millennium Management LLC now owns 184,407 shares of the industrial products company's stock worth $1,029,000 after buying an additional 143,815 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors.

About Hudson Technologies

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.