Hudson Technologies, Inc. (NASDAQ:HDSN) Receives $12.40 Average Price Target from Analysts

Hudson Technologies, Inc. (NASDAQ:HDSN) has been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $12.40.

A number of analysts recently issued reports on the stock. Canaccord Genuity Group lowered shares of Hudson Technologies from a “buy” rating to a “hold” rating and dropped their price target for the stock from $15.00 to $10.00 in a research note on Thursday. Canaccord Genuity Group restated a “hold” rating and issued a $10.00 target price (down previously from $15.00) on shares of Hudson Technologies in a research note on Thursday. Roth Mkm reduced their price target on shares of Hudson Technologies from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday. B. Riley lowered their price objective on Hudson Technologies from $17.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, March 7th. Finally, Craig Hallum cut their price objective on Hudson Technologies from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Thursday.

Hudson Technologies Price Performance

Hudson Technologies stock opened at $9.13 on Thursday. Hudson Technologies has a 12-month low of $7.21 and a 12-month high of $15.24. The company has a market capitalization of $415.51 million, a price-to-earnings ratio of 9.32, a price-to-earnings-growth ratio of 0.41 and a beta of 1.00. The firm’s fifty day moving average price is $11.48 and its 200 day moving average price is $12.49.

Hudson Technologies (NASDAQ:HDSN) last issued its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $63.04 million. During the same quarter last year, the firm earned $0.33 EPS. Analysts forecast that Hudson Technologies will post 0.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hudson Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Brightline Capital Management LLC acquired a new position in Hudson Technologies during the 3rd quarter valued at approximately $1,862,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Hudson Technologies by 83.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 318,126 shares of the industrial products company’s stock valued at $4,231,000 after acquiring an additional 144,682 shares during the period. Aigen Investment Management LP bought a new position in shares of Hudson Technologies during the third quarter worth about $172,000. SG Americas Securities LLC bought a new position in shares of Hudson Technologies during the third quarter worth about $301,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Hudson Technologies by 2.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 355,368 shares of the industrial products company’s stock worth $4,726,000 after acquiring an additional 7,175 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.