Canaccord Genuity Group Lowers Hudson Technologies (NASDAQ:HDSN) to Hold

Hudson Technologies (NASDAQ:HDSN) was downgraded by equities research analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, FinViz reports. They currently have a $10.00 price target on the industrial products company’s stock, down from their prior price target of $15.00. Canaccord Genuity Group’s target price points to a potential upside of 2.04% from the company’s current price.

Several other research analysts have also recently commented on the stock. Roth Mkm lowered their price target on shares of Hudson Technologies from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday. B. Riley decreased their price objective 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.50.

Hudson Technologies Stock Down 1.2 %

NASDAQ:HDSN opened at $9.80 on Thursday. Hudson Technologies has a 52 week low of $7.21 and a 52 week high of $15.24. The stock’s fifty day moving average is $11.79 and its two-hundred day moving average is $12.57. The stock has a market capitalization of $446.00 million, a price-to-earnings ratio of 8.83, a price-to-earnings-growth ratio of 0.34 and a beta of 1.01.

Hudson Technologies (NASDAQ:HDSN) last issued its quarterly earnings results on Wednesday, March 6th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. Hudson Technologies had a net margin of 18.08% and a return on equity of 25.57%. The business had revenue of $44.86 million for the quarter, compared to analysts’ expectations of $39.72 million. On average, sell-side analysts expect that Hudson Technologies will post 0.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its position in Hudson Technologies by 417.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,954 shares of the industrial products company’s stock valued at $94,000 after acquiring an additional 5,610 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Hudson Technologies during the first quarter worth about $126,000. Arizona State Retirement System purchased a new stake in shares of Hudson Technologies in the 4th quarter valued at about $154,000. Paradice Investment Management LLC acquired a new stake in shares of Hudson Technologies in the 4th quarter valued at about $154,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Hudson Technologies during the 4th quarter worth approximately $163,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Hudson Technologies Company 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.