Hudson Technologies (NASDAQ:HDSN) Stock Rating Lowered by Canaccord Genuity Group

Hudson Technologies (NASDAQ:HDSN) was downgraded by equities researchers at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research report issued on Thursday, MarketBeat reports. They currently have a $10.00 price target on the industrial products company’s stock, down from their previous price target of $15.00. Canaccord Genuity Group’s target price would suggest a potential upside of 9.53% from the stock’s previous close.

A number of other research analysts have also issued reports on HDSN. B. Riley lowered their target price on shares of Hudson Technologies from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. Roth Mkm decreased their price objective on Hudson Technologies from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.40.

Hudson Technologies Price Performance

Shares of Hudson Technologies stock traded up $0.03 on Thursday, hitting $9.13. The company had a trading volume of 1,091,323 shares, compared to its average volume of 653,188. The company has a market cap of $415.51 million, a PE ratio of 9.32, a PEG ratio of 0.41 and a beta of 1.00. Hudson Technologies has a 52 week low of $7.21 and a 52 week high of $15.24. The business has a 50-day simple moving average of $11.48 and a 200-day simple moving average of $12.50.

Hudson Technologies (NASDAQ:HDSN) 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. Hudson Technologies had a return on equity of 22.00% and a net margin of 16.70%. The company had revenue of $65.25 million for the quarter, compared to analyst estimates of $63.04 million. During the same period in the previous year, the firm earned $0.33 earnings per share. On average, equities research analysts predict that Hudson Technologies will post 0.74 earnings per share for the current fiscal year.

Institutional Trading of Hudson Technologies

A number of large investors have recently bought and sold shares of the business. Robertson Stephens Wealth Management LLC boosted its position in Hudson Technologies by 4.1% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 81,581 shares of the industrial products company’s stock worth $1,101,000 after acquiring an additional 3,191 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Hudson Technologies by 417.4% during the 4th 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. BNP Paribas Financial Markets grew its stake in Hudson Technologies by 37.3% in the 1st quarter. BNP Paribas Financial Markets now owns 21,704 shares of the industrial products company’s stock valued at $239,000 after buying an additional 5,894 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Hudson Technologies by 2.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 355,368 shares of the industrial products company’s stock valued at $4,726,000 after acquiring an additional 7,175 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in Hudson Technologies by 17.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 61,104 shares of the industrial products company’s stock worth $824,000 after purchasing an additional 9,297 shares during the last quarter. 71.34% of the stock is owned by 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.