West Tower Group LLC Buys Shares of 3,348 Hudson Technologies, Inc. (NASDAQ:HDSN)

West Tower Group LLC acquired a new position in Hudson Technologies, Inc. (NASDAQ:HDSN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,348 shares of the industrial products company’s stock, valued at approximately $28,000.

A number of other hedge funds also recently bought and sold shares of HDSN. Swedbank AB purchased a new stake in shares of Hudson Technologies during the first quarter worth about $1,652,000. Russell Investments Group Ltd. raised its holdings in shares of Hudson Technologies by 240,800.0% in the 1st quarter. Russell Investments Group Ltd. now owns 57,816 shares of the industrial products company’s stock valued at $637,000 after purchasing an additional 57,792 shares in the last quarter. Sixth Street Partners Management Company L.P. increased its holdings in shares of Hudson Technologies by 30.0% in the 2nd quarter. Sixth Street Partners Management Company L.P. now owns 1,300,000 shares of the industrial products company’s stock valued at $11,427,000 after acquiring an additional 300,000 shares during the period. Commonwealth Equity Services LLC purchased a new stake in shares of Hudson Technologies during the 2nd quarter worth $687,000. Finally, Dimensional Fund Advisors LP grew its stake in Hudson Technologies by 22.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,019,067 shares of the industrial products company’s stock valued at $17,747,000 after purchasing an additional 364,117 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Hudson Technologies Stock Performance

Shares of Hudson Technologies stock opened at $6.03 on Tuesday. The company has a market capitalization of $272.55 million, a P/E ratio of 9.28, a PEG ratio of 0.35 and a beta of 1.22. Hudson Technologies, Inc. has a 1 year low of $5.35 and a 1 year high of $15.24. The company’s fifty day moving average is $7.41 and its two-hundred day moving average is $8.21.

Hudson Technologies (NASDAQ:HDSN) last released its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Hudson Technologies had a return on equity of 12.74% and a net margin of 12.49%. The firm had revenue of $61.94 million for the quarter, compared to analyst estimates of $64.92 million. During the same quarter last year, the company posted $0.34 earnings per share. As a group, equities analysts expect that Hudson Technologies, Inc. will post 0.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HDSN. Roth Capital downgraded Hudson Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 5th. B. Riley restated a “neutral” rating and set a $7.25 price target (down from $8.50) on shares of Hudson Technologies in a research report on Tuesday, November 5th. Roth Mkm lowered shares of Hudson Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $12.00 to $7.00 in a report on Tuesday, November 5th. Canaccord Genuity Group dropped their price objective on Hudson Technologies from $8.75 to $8.00 and set a “hold” rating for the company in a research note on Tuesday, November 5th. Finally, Craig Hallum cut shares of Hudson Technologies from a “buy” rating to a “hold” rating and decreased their price target for the company from $10.00 to $7.00 in a research report on Tuesday, November 5th. Six research analysts have rated the stock with a hold rating, According to MarketBeat, Hudson Technologies currently has a consensus rating of “Hold” and a consensus price target of $7.85.

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.