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

Canaccord Genuity Group reaffirmed their hold rating on shares of Hudson Technologies (NASDAQ:HDSN) in a research report report published on Thursday morning, MarketBeat Ratings reports. They currently have a $10.00 price objective on the industrial products company’s stock, down from their prior price objective of $15.00.

Several other analysts also recently issued reports on the company. Roth Mkm cut 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, May 1st. B. Riley dropped 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 report on Thursday, March 7th. Finally, Canaccord Genuity Group downgraded shares of Hudson Technologies from a buy rating to a hold rating and reduced their price target for the company from $15.00 to $10.00 in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $12.40.

Hudson Technologies Stock Performance

Shares of NASDAQ:HDSN opened at $9.13 on Thursday. The stock has a market capitalization of $415.51 million, a price-to-earnings ratio of 9.32, a PEG ratio of 0.41 and a beta of 1.00. Hudson Technologies has a 1-year low of $7.21 and a 1-year high of $15.24. The company has a 50 day moving average price of $11.48 and a 200 day moving average price of $12.48.

Hudson Technologies (NASDAQ:HDSN) last released its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. The business had revenue of $65.25 million during the quarter, compared to analyst estimates of $63.04 million. Hudson Technologies had a return on equity of 22.00% and a net margin of 16.70%. During the same period last year, the company posted $0.33 EPS. On average, sell-side analysts expect that Hudson Technologies will post 0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Hudson Technologies

A number of large investors have recently made changes to their positions in the business. GSA Capital Partners LLP purchased a new position in Hudson Technologies during the first quarter valued at approximately $819,000. Janney Montgomery Scott LLC lifted its position in Hudson Technologies by 22.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 74,836 shares of the industrial products company’s stock worth $824,000 after buying an additional 13,732 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Hudson Technologies by 37.3% during 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 period. Peterson Wealth Services grew its holdings in shares of Hudson Technologies by 196.6% during the 1st quarter. Peterson Wealth Services now owns 45,577 shares of the industrial products company’s stock valued at $502,000 after acquiring an additional 30,213 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Hudson Technologies in the first quarter worth $126,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.