Hudson Technologies, Inc. (NASDAQ:HDSN) to Post Q2 2024 Earnings of $0.25 Per Share, B. Riley Forecasts

Hudson Technologies, Inc. (NASDAQ:HDSN) – Research analysts at B. Riley dropped their Q2 2024 earnings per share (EPS) estimates for Hudson Technologies in a research report issued on Thursday, May 2nd. B. Riley analyst J. Nichols now expects that the industrial products company will post earnings per share of $0.25 for the quarter, down from their prior forecast of $0.31. B. Riley has a “Buy” rating and a $16.00 price objective on the stock. The consensus estimate for Hudson Technologies’ current full-year earnings is $0.74 per share. B. Riley also issued estimates for Hudson Technologies’ Q3 2024 earnings at $0.21 EPS, Q4 2024 earnings at $0.05 EPS and FY2024 earnings at $0.71 EPS.

A number of other brokerages have also issued reports on HDSN. Roth Mkm lowered their price target on Hudson Technologies from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday. Canaccord Genuity Group reissued a “hold” rating and set a $10.00 price target (down previously from $15.00) on shares of Hudson Technologies in a research report on Thursday. Craig Hallum lowered their price objective on shares of Hudson Technologies from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Canaccord Genuity Group downgraded shares of 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 research 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 presently has an average rating of “Moderate Buy” and a consensus price target of $12.40.

Hudson Technologies Price Performance

Shares of HDSN stock opened at $9.13 on Friday. The company’s 50-day simple moving average is $11.48 and its two-hundred day simple moving average is $12.49. 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 P/E ratio of 9.32, a P/E/G ratio of 0.41 and a beta of 1.00.

Hudson Technologies (NASDAQ:HDSN) last posted its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.19 by $0.01. The company had revenue of $65.25 million for the quarter, compared to the consensus estimate of $63.04 million. Hudson Technologies had a net margin of 16.70% and a return on equity of 22.00%. During the same quarter last year, the firm posted $0.33 EPS.

Institutional Investors Weigh In On Hudson Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Brightline Capital Management LLC bought a new stake in shares of Hudson Technologies in the 3rd quarter valued at about $1,862,000. Allspring Global Investments Holdings LLC lifted its position in 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 last quarter. Aigen Investment Management LP acquired a new stake in Hudson Technologies in the third quarter valued at approximately $172,000. SG Americas Securities LLC purchased a new position in Hudson Technologies in the third quarter worth $301,000. Finally, Bank of New York Mellon Corp increased its position in shares of Hudson Technologies by 2.1% during the third quarter. Bank of New York Mellon Corp now owns 355,368 shares of the industrial products company’s stock worth $4,726,000 after purchasing an additional 7,175 shares in the last quarter. Institutional investors 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.