Hudson Technologies, Inc. (NASDAQ:HDSN) Sees Significant Decrease in Short Interest

Hudson Technologies, Inc. (NASDAQ:HDSN) saw a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 909,900 shares, a drop of 6.9% from the February 29th total of 977,700 shares. Currently, 2.3% of the company’s shares are short sold. Based on an average trading volume of 405,900 shares, the days-to-cover ratio is presently 2.2 days.

Analyst Upgrades and Downgrades

Separately, B. Riley decreased their target price on shares of Hudson Technologies from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, March 7th.

Hudson Technologies Price Performance

Shares of NASDAQ:HDSN opened at $10.94 on Wednesday. The business’s 50-day moving average is $12.95 and its 200-day moving average is $12.92. Hudson Technologies has a 1 year low of $7.21 and a 1 year high of $15.24. The company has a market capitalization of $497.88 million, a price-to-earnings ratio of 9.86, a P/E/G ratio of 0.36 and a beta of 0.91.

Hudson Technologies (NASDAQ:HDSN) last posted its quarterly earnings results on Wednesday, March 6th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $44.86 million for the quarter, compared to analysts’ expectations of $39.72 million. Hudson Technologies had a return on equity of 25.57% and a net margin of 18.08%. Analysts anticipate that Hudson Technologies will post 1.05 EPS for the current year.

Institutional Investors Weigh In On Hudson Technologies

Large investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. bought a new position in shares of Hudson Technologies during the 4th quarter worth about $26,000. Metropolitan Life Insurance Co NY boosted its holdings in Hudson Technologies by 140.1% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 2,677 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 1,562 shares in the last quarter. Quarry LP acquired a new stake in Hudson Technologies in the first quarter valued at approximately $31,000. Legal & General Group Plc bought a new stake in shares of Hudson Technologies during the second quarter valued at approximately $35,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Hudson Technologies by 230.8% during the second quarter. Tower Research Capital LLC TRC now owns 3,715 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 2,592 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.