Hudson Technologies (NASDAQ:HDSN) Rating Lowered to “Strong Sell” at Zacks Research

Hudson Technologies (NASDAQ:HDSN) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday, Zacks reports.

A number of other research firms also recently commented on HDSN. B. Riley Financial reduced their price objective on shares of Hudson Technologies from $7.25 to $6.00 and set a “buy” rating for the company in a research note on Thursday. Weiss Ratings cut Hudson Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Finally, Canaccord Genuity Group reduced their price target on Hudson Technologies from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.50.

Hudson Technologies Trading Down 2.5%

Shares of HDSN opened at $4.31 on Thursday. Hudson Technologies has a 12 month low of $4.10 and a 12 month high of $9.18. The firm has a fifty day simple moving average of $5.22 and a 200 day simple moving average of $5.93. The stock has a market capitalization of $181.41 million, a price-to-earnings ratio of -215.50 and a beta of 0.83.

Hudson Technologies (NASDAQ:HDSN) last released its earnings results on Wednesday, October 28th. The industrial products company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). Hudson Technologies had a negative net margin of 0.54% and a positive return on equity of 0.80%. The business had revenue of $59.42 million during the quarter, compared to the consensus estimate of $77.96 million. As a group, research analysts predict that Hudson Technologies will post 0.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Hartree Partners, Lp purchased 118,549 shares of the company’s stock in a transaction on Thursday, September 24th. The shares were purchased at an average cost of $5.10 per share, with a total value of $604,599.90. Following the completion of the transaction, the insider owned 5,348,517 shares of the company’s stock, valued at $27,277,436.70. The trade was a 2.27% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 254,327 shares of company stock worth $1,339,392 in the last 90 days. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Isthmus Partners LLC boosted its stake in shares of Hudson Technologies by 3.8% during the third quarter. Isthmus Partners LLC now owns 59,639 shares of the industrial products company’s stock valued at $307,000 after purchasing an additional 2,183 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Hudson Technologies by 2.2% in the first quarter. First Trust Advisors LP now owns 145,083 shares of the industrial products company’s stock valued at $853,000 after buying an additional 3,105 shares during the period. State of Wyoming acquired a new position in shares of Hudson Technologies in the second quarter valued at approximately $78,000. Sequoia Financial Advisors LLC acquired a new position in shares of Hudson Technologies in the first quarter valued at approximately $82,000. Finally, EP Wealth Advisors LLC bought a new position in Hudson Technologies in the 2nd quarter valued at approximately $97,000. Institutional investors own 71.34% of the company’s stock.

About Hudson Technologies

Hudson Technologies, Inc (NASDAQ:HDSN) provides refrigerant products and services for the heating, ventilation, air conditioning and refrigeration (HVACR) industry. The company supplies reclaimed and recycled refrigerants, as well as virgin refrigerants and related products, to customers that operate or service commercial, industrial and residential cooling systems.

Its services include refrigerant reclamation, refrigerant management, cylinder management, technical support and logistics.