Canaccord Genuity Group Reaffirms “Hold” Rating for Hudson Technologies (NASDAQ:HDSN)

Hudson Technologies (NASDAQ:HDSN)‘s stock had its “hold” rating restated by investment analysts at Canaccord Genuity Group in a note issued to investors on Thursday, Marketbeat reports. They presently have a $10.00 price objective on the industrial products company’s stock, down from their previous price objective of $15.00. Canaccord Genuity Group’s target price would suggest a potential upside of 9.53% from the stock’s previous close.

HDSN has been the subject of a number of other reports. Roth Mkm lowered their target price on shares of Hudson Technologies from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday. B. Riley lowered 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 note on Thursday, March 7th. Finally, Canaccord Genuity Group downgraded Hudson Technologies from a “buy” rating to a “hold” rating and cut their target price 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hudson Technologies has a consensus rating of “Moderate Buy” and an average price target of $12.40.

Hudson Technologies Stock Performance

Shares of Hudson Technologies stock opened at $9.13 on Thursday. Hudson Technologies has a one year low of $7.21 and a one year high of $15.24. The company has a market capitalization of $415.51 million, a PE ratio of 9.32, a P/E/G ratio of 0.41 and a beta of 1.00. The company has a 50-day simple moving average of $11.48 and a two-hundred day simple moving average of $12.50.

Hudson Technologies (NASDAQ:HDSN) last announced its earnings results 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. Hudson Technologies had a return on equity of 22.00% and a net margin of 16.70%. The firm had revenue of $65.25 million for the quarter, compared to the consensus estimate of $63.04 million. During the same period in the previous year, the business earned $0.33 EPS. On average, equities analysts predict that Hudson Technologies will post 0.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hudson Technologies

Several hedge funds have recently added to or reduced their stakes in HDSN. Robertson Stephens Wealth Management LLC lifted its holdings in shares of Hudson Technologies by 4.1% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 81,581 shares of the industrial products company’s stock valued at $1,101,000 after buying an additional 3,191 shares during the period. Tower Research Capital LLC TRC raised its position in Hudson Technologies by 417.4% during 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 in the last quarter. BNP Paribas Financial Markets lifted its holdings in Hudson Technologies by 37.3% in the first quarter. BNP Paribas Financial Markets now owns 21,704 shares of the industrial products company’s stock valued at $239,000 after acquiring an additional 5,894 shares during the period. Bank of New York Mellon Corp lifted its holdings in Hudson Technologies by 2.1% in the third quarter. Bank of New York Mellon Corp now owns 355,368 shares of the industrial products company’s stock valued at $4,726,000 after acquiring an additional 7,175 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in Hudson Technologies by 17.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 61,104 shares of the industrial products company’s stock worth $824,000 after purchasing an additional 9,297 shares in the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

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.