Balyasny Asset Management L.P. Acquires New Position in Hudson Technologies, Inc. (NASDAQ:HDSN)

Balyasny Asset Management L.P. acquired a new stake in Hudson Technologies, Inc. (NASDAQ:HDSN) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 40,040 shares of the industrial products company’s stock, valued at approximately $223,000.

Other hedge funds have also added to or reduced their stakes in the company. Bastion Asset Management Inc. purchased a new stake in shares of Hudson Technologies in the fourth quarter valued at approximately $1,487,000. Bank of America Corp DE raised its position in Hudson Technologies by 102.4% during the 4th quarter. Bank of America Corp DE now owns 93,942 shares of the industrial products company’s stock valued at $524,000 after purchasing an additional 47,533 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Hudson Technologies by 538.6% in the 4th quarter. BNP Paribas Financial Markets now owns 190,623 shares of the industrial products company’s stock worth $1,064,000 after buying an additional 160,774 shares during the period. Ameriprise Financial Inc. bought a new position in shares of Hudson Technologies during the 4th quarter worth $600,000. Finally, Algert Global LLC increased its stake in shares of Hudson Technologies by 31.6% during the fourth quarter. Algert Global LLC now owns 50,365 shares of the industrial products company’s stock valued at $281,000 after buying an additional 12,090 shares during the period. 71.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HDSN has been the subject of several recent research reports. Craig Hallum upgraded Hudson Technologies from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Thursday, May 8th. Canaccord Genuity Group upped their price target on shares of Hudson Technologies from $6.25 to $6.75 and gave the stock a “hold” rating in a research report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $7.25.

Hudson Technologies Price Performance

Shares of HDSN stock opened at $7.82 on Monday. The stock’s 50-day moving average is $6.20 and its 200 day moving average is $5.95. Hudson Technologies, Inc. has a 1-year low of $5.11 and a 1-year high of $10.04. The company has a market cap of $340.02 million, a P/E ratio of 12.03, a PEG ratio of 0.49 and a beta of 0.92.

Hudson Technologies (NASDAQ:HDSN) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.01 by $0.05. Hudson Technologies had a net margin of 12.49% and a return on equity of 12.74%. The business had revenue of $55.34 million during the quarter, compared to analyst estimates of $52.23 million. On average, analysts anticipate that Hudson Technologies, Inc. will post 0.55 EPS for the current year.

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.