Zacks Investment Research Lowers Hudson Technologies (NASDAQ:HDSN) to Strong Sell

Hudson Technologies (NASDAQ:HDSN) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report 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. “

HDSN has been the topic of several other reports. Craig Hallum lowered shares of Hudson Technologies from a “buy” rating to a “hold” rating and set a $2.00 price objective on the stock. in a research note on Wednesday, June 19th. ValuEngine lowered shares of Hudson Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Finally, Roth Capital lowered shares of Hudson Technologies from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $4.00 to $0.60 in a research note on Monday. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $1.30.

Shares of Hudson Technologies stock traded down $0.07 during trading on Thursday, hitting $0.39. 1,070,552 shares of the stock were exchanged, compared to its average volume of 473,080. The stock has a market capitalization of $16.70 million, a price-to-earnings ratio of -1.70 and a beta of 1.02. The company has a fifty day moving average price of $0.68 and a 200-day moving average price of $1.35. Hudson Technologies has a 1-year low of $0.37 and a 1-year high of $2.25. The company has a current ratio of 1.88, a quick ratio of 0.39 and a debt-to-equity ratio of 1.58.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in Hudson Technologies in the 4th quarter valued at about $351,000. Bank of New York Mellon Corp grew its stake in Hudson Technologies by 276.7% in the 4th quarter. Bank of New York Mellon Corp now owns 96,175 shares of the industrial products company’s stock valued at $86,000 after buying an additional 70,646 shares during the last quarter. Cooper Creek Partners Management LLC grew its stake in Hudson Technologies by 0.3% in the 1st 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 buying an additional 10,115 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in Hudson Technologies in the 2nd quarter valued at about $123,000. Finally, Vanguard Group Inc. grew its stake in Hudson Technologies by 62.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,701,343 shares of the industrial products company’s stock valued at $1,463,000 after buying an additional 651,755 shares during the last quarter. Institutional investors and hedge funds own 60.68% of the company’s stock.

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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