Hudson Technologies, Inc. (NASDAQ:HDSN) Sees Significant Decline in Short Interest

Hudson Technologies, Inc. (NASDAQ:HDSN) was the target of a significant drop in short interest in the month of August. As of August 15th, there was short interest totaling 1,200,000 shares, a drop of 21.1% from the July 31st total of 1,520,000 shares. Based on an average trading volume of 421,200 shares, the short-interest ratio is currently 2.8 days. Approximately 3.1% of the shares of the company are sold short. Approximately 3.1% of the shares of the company are sold short. Based on an average trading volume of 421,200 shares, the short-interest ratio is currently 2.8 days.

Institutional Trading of Hudson Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of HDSN. Hartree Partners LP purchased a new position in Hudson Technologies during the first quarter valued at $22,046,000. Westerly Capital Management LLC grew its stake in Hudson Technologies by 63.3% during the second quarter. Westerly Capital Management LLC now owns 2,000,000 shares of the industrial products company’s stock valued at $16,240,000 after acquiring an additional 775,000 shares in the last quarter. New South Capital Management Inc. grew its stake in Hudson Technologies by 12.3% during the first quarter. New South Capital Management Inc. now owns 1,483,719 shares of the industrial products company’s stock valued at $9,155,000 after acquiring an additional 162,002 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in Hudson Technologies by 282.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,345,553 shares of the industrial products company’s stock valued at $7,508,000 after acquiring an additional 993,833 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Hudson Technologies by 102.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,111,803 shares of the industrial products company’s stock valued at $9,028,000 after acquiring an additional 563,899 shares in the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on HDSN. B. Riley upgraded shares of Hudson Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $7.50 to $9.00 in a research report on Monday, June 16th. Wall Street Zen upgraded shares of Hudson Technologies from a “buy” rating to a “strong-buy” rating in a research report on Monday. Finally, Canaccord Genuity Group upgraded shares of Hudson Technologies from a “hold” rating to a “buy” rating and increased their price target for the stock from $6.75 to $10.50 in a research report on Thursday, July 31st. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $8.63.

Hudson Technologies Price Performance

Shares of NASDAQ HDSN opened at $10.11 on Thursday. The firm has a fifty day moving average price of $9.23 and a 200-day moving average price of $7.51. The stock has a market cap of $441.50 million, a PE ratio of 25.28 and a beta of 0.97. Hudson Technologies has a 1 year low of $5.11 and a 1 year high of $10.45.

Hudson Technologies (NASDAQ:HDSN) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.08. The firm had revenue of $72.85 million during the quarter, compared to analysts’ expectations of $71.67 million. Hudson Technologies had a net margin of 8.08% and a return on equity of 7.26%. On average, research analysts expect that Hudson Technologies will post 0.55 EPS for the current year.

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.