Hudson Technologies (NASDAQ:HDSN) Upgraded by Canaccord Genuity Group to "Buy" Rating

Key Points

• Hudson Technologies was upgraded by Canaccord Genuity Group from a "hold" rating to a "buy" rating, with a new price target of $10.50, indicating a potential upside of 26.20% from its previous close.
• Recent analyst upgrades include an increase from Craig Hallum and B. Riley, contributing to a consensus rating of "Moderate Buy" with an average target price of $8.63.
• Hudson Technologies reported earnings of $0.23 EPS for the last quarter, exceeding estimates, while revenue hit $72.85 million.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) was upgraded by equities researchers at Canaccord Genuity Group from a "hold" rating to a "buy" rating in a research report issued on Thursday, Marketbeat reports. The brokerage currently has a $10.50 price target on the industrial products company's stock, up from their previous price target of $6.75. Canaccord Genuity Group's target price points to a potential upside of 9.95% from the company's previous close.

A number of other equities research analysts have also issued reports on HDSN. B. Riley upgraded shares of Hudson Technologies from a "neutral" rating to a "buy" rating and boosted their price target for the company from $7.50 to $9.00 in a report on Monday, June 16th. Craig Hallum raised shares of Hudson Technologies from a "hold" rating to a "buy" rating and set a $8.00 target price on the stock in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $8.63.

Hudson Technologies Price Performance

Shares of HDSN traded up $0.16 during trading hours on Thursday, hitting $9.55. 1,052,772 shares of the company were exchanged, 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. The firm has a fifty day simple moving average of $7.92 and a 200-day simple moving average of $6.73. Hudson Technologies has a one year low of $5.11 and a one year high of $9.70.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last issued 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. The firm 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 7.30% and a net margin of 8.08%. Sell-side analysts expect that Hudson Technologies will post 0.55 EPS for the current year.

Institutional Investors Weigh In On Hudson Technologies

Institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC acquired a new stake in Hudson Technologies during the first quarter valued at $79,000. Sequoia Financial Advisors LLC lifted its holdings 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 valued at $102,000 after buying an additional 3,225 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Hudson Technologies by 111.8% in the 1st quarter. GAMMA Investing LLC now owns 4,970 shares of the industrial products company's stock valued at $31,000 after buying an additional 2,624 shares in the last quarter. New South Capital Management Inc. increased its holdings 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 buying an additional 162,002 shares during the last quarter. Finally, Two Sigma Advisers LP raised its position in Hudson Technologies by 147.8% during the fourth quarter. Two Sigma Advisers LP now owns 234,400 shares of the industrial products company's stock valued at $1,308,000 after acquiring an additional 139,800 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company's stock.

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.