Hudson Technologies (HDSN) Downgraded to “Sell” at Zacks Investment Research

Hudson Technologies (NASDAQ:HDSN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “Hudson Technologies, Inc. is a leading provider of innovative solutions to recurring problems within the refrigeration industry. Hudson’s proprietary RefrigerantSide Services increase operating efficiency and energy savings, and remove moisture, oils and other contaminants frequently found in the refrigeration circuits of large comfort cooling and process refrigeration systems. Performed at a customer’s site as an integral part of an effective scheduled maintenance program or in response to emergencies, RefrigerantSide Services offer significant savings to customers due to their ability to be completed rapidly and at higher purity levels, and can be utilized while the customer’s system continues to operate. In addition, the Company sells refrigerants and provides traditional reclamation services to the commercial and industrial air conditioning and refrigeration markets. “

Separately, ValuEngine raised shares of Hudson Technologies from a “hold” rating to a “buy” rating in a report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold”.

Shares of Hudson Technologies stock traded down $0.12 during midday trading on Thursday, reaching $2.04. The company had a trading volume of 1,075,800 shares, compared to its average volume of 377,660. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.88 and a quick ratio of 0.39. The firm has a market cap of $91.16 million, a P/E ratio of -8.87 and a beta of 1.83. Hudson Technologies has a 1-year low of $0.70 and a 1-year high of $2.73.

Hudson Technologies (NASDAQ:HDSN) last issued its quarterly earnings results on Wednesday, March 6th. The industrial products company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). The company had revenue of $25.72 million during the quarter, compared to analyst estimates of $25.18 million. Hudson Technologies had a negative net margin of 34.35% and a negative return on equity of 16.86%. On average, sell-side analysts expect that Hudson Technologies will post -0.1 EPS for the current year.

Institutional investors have recently modified their holdings of the stock. Jane Street Group LLC bought a new position in Hudson Technologies in the first quarter valued at approximately $35,000. M&T Bank Corp bought a new position in Hudson Technologies in the first quarter valued at approximately $123,000. ArrowMark Colorado Holdings LLC boosted its stake in Hudson Technologies by 7.2% in the first quarter. ArrowMark Colorado Holdings LLC now owns 4,178,343 shares of the industrial products company’s stock valued at $8,064,000 after acquiring an additional 278,943 shares during the last quarter. Charles Schwab Investment Management Inc. bought a new position in Hudson Technologies in the first quarter valued at approximately $51,000. Finally, Cooper Creek Partners Management LLC boosted its stake in Hudson Technologies by 0.3% in the first quarter. Cooper Creek Partners Management LLC now owns 3,828,773 shares of the industrial products company’s stock valued at $7,390,000 after acquiring an additional 10,115 shares during the last quarter. 59.48% of the stock is owned by institutional investors and hedge funds.

Hudson Technologies Company Profile

Hudson Technologies Inc operates as a refrigerant services company in the United States and internationally. It sells reclaimed and virgin refrigerants, and industrial gases; provides refrigerant management services, such as reclamation of refrigerants and laboratory testing, as well as re-usable cylinder refurbishment and hydrostatic testing services.

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