Hudson Technologies (NASDAQ:HDSN) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Hudson Technologies (NASDAQ:HDSN) from a hold rating to a strong sell rating in a report published on Thursday,Zacks reports.

A number of other research analysts also recently weighed in on the stock. Canaccord Genuity Group decreased their price objective on shares of Hudson Technologies from $8.00 to $7.00 and set a “buy” rating for the company in a research report 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, B. Riley Financial lowered their price target on Hudson Technologies from $7.25 to $6.00 and set a “buy” rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $7.50.

Hudson Technologies Trading Down 2.5%

Hudson Technologies stock opened at $4.31 on Thursday. The firm has a market cap of $181.41 million, a PE ratio of -215.50 and a beta of 0.83. Hudson Technologies has a 12 month low of $4.10 and a 12 month high of $9.18. The stock’s 50 day simple moving average is $5.22 and its two-hundred day simple moving average is $5.93.

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

Insider Activity

In related news, major shareholder Hartree Partners, Lp acquired 118,549 shares of Hudson Technologies stock in a transaction that occurred on Thursday, September 24th. The shares were purchased at an average cost of $5.10 per share, for a total transaction of $604,599.90. Following the acquisition, the insider owned 5,348,517 shares in the company, valued at approximately $27,277,436.70. This represents a 2.27% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders bought 254,327 shares of company stock worth $1,339,392. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Hudson Technologies in the 2nd quarter valued at approximately $16,303,000. Segall Bryant & Hamill LLC raised its position in Hudson Technologies by 248.4% in the first quarter. Segall Bryant & Hamill LLC now owns 628,341 shares of the industrial products company’s stock valued at $3,695,000 after purchasing an additional 447,987 shares during the period. JB Capital Partners LP purchased a new stake in Hudson Technologies in the second quarter valued at approximately $1,757,588. Ancora Advisors LLC acquired a new position in Hudson Technologies during the second quarter worth $1,741,000. Finally, Kerrisdale Advisers LLC lifted its stake in Hudson Technologies by 420.6% during the second quarter. Kerrisdale Advisers LLC now owns 299,976 shares of the industrial products company’s stock worth $1,722,000 after purchasing an additional 242,354 shares in the last quarter. Hedge funds and other 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.