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

Canaccord Genuity Group downgraded shares of Hudson Technologies (NASDAQ:HDSN) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, MarketBeat reports. The firm currently has $10.00 price target on the industrial products company’s stock, down from their prior price target of $15.00.

HDSN has been the subject of a number of other research reports. Roth Mkm decreased their price objective on shares of Hudson Technologies from $14.00 to $13.00 and set a buy rating for the company in a report on Wednesday, May 1st. 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 report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $12.40.

Hudson Technologies Price Performance

HDSN opened at $9.13 on Thursday. Hudson Technologies has a fifty-two week low of $7.21 and a fifty-two week high of $15.24. The company has a market cap 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 has a 50 day simple moving average of $11.48 and a 200 day simple moving average of $12.48.

Hudson Technologies (NASDAQ:HDSN) last posted its quarterly earnings results 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 company had revenue of $65.25 million for the quarter, compared to the consensus estimate of $63.04 million. During the same quarter in the prior year, the business posted $0.33 EPS. As a group, analysts expect that Hudson Technologies will post 0.74 EPS for the current year.

Institutional Investors Weigh In On Hudson Technologies

Several large investors have recently made changes to their positions in the stock. RK Capital Management LLC bought a new stake in shares of Hudson Technologies in the third quarter worth $6,383,000. Sixth Street Partners Management Company L.P. boosted its stake in shares of Hudson Technologies by 53.1% during the 3rd quarter. Sixth Street Partners Management Company L.P. now owns 995,000 shares of the industrial products company’s stock worth $13,234,000 after buying an additional 345,000 shares during the last quarter. EAM Investors LLC acquired a new stake in shares of Hudson Technologies in the third quarter valued at about $4,572,000. Allspring Global Investments Holdings LLC raised its holdings 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 worth $4,231,000 after acquiring an additional 144,682 shares in the last quarter. Finally, Brightline Capital Management LLC acquired a new position in shares of Hudson Technologies during the 3rd quarter worth approximately $1,862,000. Institutional investors 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.