D. E. Shaw & Co. Inc. Buys 993,833 Shares of Hudson Technologies, Inc. (NASDAQ:HDSN)

D. E. Shaw & Co. Inc. grew its stake in shares of Hudson Technologies, Inc. (NASDAQ:HDSN) by 282.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,345,553 shares of the industrial products company’s stock after buying an additional 993,833 shares during the period. D. E. Shaw & Co. Inc. owned approximately 2.98% of Hudson Technologies worth $7,508,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. EP Wealth Advisors LLC acquired a new stake in shares of Hudson Technologies during the fourth quarter worth about $71,000. Cubist Systematic Strategies LLC increased its position in shares of Hudson Technologies by 91.5% during the 4th quarter. Cubist Systematic Strategies LLC now owns 196,580 shares of the industrial products company’s stock worth $1,097,000 after purchasing an additional 93,944 shares during the last quarter. Bridgeway Capital Management LLC acquired a new position in shares of Hudson Technologies during the 4th quarter worth approximately $1,091,000. Balyasny Asset Management L.P. bought a new position in shares of Hudson Technologies during the 4th quarter worth approximately $223,000. Finally, Bastion Asset Management Inc. bought a new position in shares of Hudson Technologies during the 4th quarter worth approximately $1,487,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HDSN. Canaccord Genuity Group boosted their price target on Hudson Technologies from $6.25 to $6.75 and gave the company a “hold” rating in a research note on Thursday, May 8th. Craig Hallum upgraded Hudson Technologies from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $7.25.

Hudson Technologies Price Performance

Shares of HDSN opened at $7.88 on Friday. Hudson Technologies, Inc. has a 1 year low of $5.11 and a 1 year high of $10.04. The company has a market capitalization of $346.53 million, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 0.49 and a beta of 0.92. The business has a 50-day moving average of $6.16 and a 200-day moving average of $5.98.

Hudson Technologies (NASDAQ:HDSN) last issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. Hudson Technologies had a return on equity of 12.74% and a net margin of 12.49%. The company had revenue of $55.34 million during the quarter, compared to the consensus estimate of $52.23 million. As a group, sell-side analysts anticipate that Hudson Technologies, Inc. will post 0.55 EPS for the current year.

Hudson Technologies Profile

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.