Canaccord Genuity Group Lowers Hudson Technologies (NASDAQ:HDSN) to Hold

Canaccord Genuity Group cut shares of Hudson Technologies (NASDAQ:HDSN - Free Report) from a buy rating to a hold rating in a research report sent to investors on Thursday, MarketBeat Ratings reports. They currently have $10.00 price target on the industrial products company's stock, down from their previous price target of $15.00.

HDSN has been the subject of a number of other research reports. Roth Mkm cut their price objective on shares of Hudson Technologies from $14.00 to $13.00 and set a buy rating for the company in a research report on Wednesday. B. Riley cut their price objective on shares of Hudson Technologies from $17.00 to $16.00 and set a buy rating for the company in a research report on Thursday, March 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $12.40.

Hudson Technologies Price Performance

HDSN traded down $0.70 during midday trading on Thursday, reaching $9.10. 3,553,604 shares of the company's stock were exchanged, compared to its average volume of 502,045. The stock has a market capitalization of $414.14 million, a PE ratio of 8.04, a P/E/G ratio of 0.34 and a beta of 1.01. The business's 50-day moving average price is $11.70 and its 200 day moving average price is $12.55. Hudson Technologies has a 1-year low of $7.21 and a 1-year high of $15.24.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last announced its earnings results on Wednesday, May 1st. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.01. The company had revenue of $65.25 million during the quarter, compared to analysts' expectations of $63.04 million. Hudson Technologies had a net margin of 18.08% and a return on equity of 25.57%. During the same quarter in the previous year, the business posted $0.33 earnings per share. As a group, analysts expect that Hudson Technologies will post 0.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Hudson Technologies

Institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC grew its stake in Hudson Technologies by 417.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,954 shares of the industrial products company's stock worth $94,000 after buying an additional 5,610 shares during the period. Paradice Investment Management LLC purchased a new stake in Hudson Technologies during the fourth quarter worth approximately $154,000. Sequoia Financial Advisors LLC purchased a new stake in Hudson Technologies during the first quarter worth approximately $126,000. Arizona State Retirement System purchased a new stake in Hudson Technologies during the fourth quarter worth approximately $154,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Hudson Technologies during the fourth quarter worth approximately $163,000. 71.34% of the stock is currently owned by hedge funds and other 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.