Hudson Technologies (NASDAQ:HDSN) Raised to Buy at Canaccord Genuity Group

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 Canaccord Genuity Group from a "hold" rating to a "buy" rating in a report issued on Thursday, Marketbeat.com reports. The firm currently has a $10.50 target price on the industrial products company's stock, up from their previous target price of $6.75. Canaccord Genuity Group's price target would suggest a potential upside of 5.74% from the stock's previous close.

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

Hudson Technologies Trading Up 4.0%

HDSN traded up $0.38 on Thursday, hitting $9.93. 948,449 shares of the company were exchanged, compared to its average volume of 468,164. Hudson Technologies has a twelve month low of $5.11 and a twelve month high of $10.06. The company has a market cap of $431.76 million, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 0.68 and a beta of 0.96. The firm has a 50-day moving average price of $7.92 and a two-hundred day moving average price of $6.73.

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

Institutional Trading of Hudson Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of Hudson Technologies during the first quarter valued at approximately $79,000. Sequoia Financial Advisors LLC boosted its position in shares of Hudson Technologies by 24.2% during the first 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 during the period. GAMMA Investing LLC boosted its position 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 buying an additional 2,624 shares during the period. New South Capital Management Inc. boosted its position in shares of Hudson Technologies by 12.3% during 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 period. Finally, Two Sigma Advisers LP boosted its position in shares of 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 worth $1,308,000 after buying an additional 139,800 shares during the period. 71.34% of the stock is owned by 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.