Hudson Technologies, Inc. (HDSN) Stock Rating Lowered by Zacks Investment Research

Hudson Technologies, Inc. (NASDAQ:HDSN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

According to Zacks, “Hudson Technologies, Inc. is a leading provider of innovative solutions to recurring problems within the refrigeration industry. Hudson’s proprietary RefrigerantSide Services increase operating efficiency and energy savings, and remove moisture, oils and other contaminants frequently found in the refrigeration circuits of large comfort cooling and process refrigeration systems. Performed at a customer’s site as an integral part of an effective scheduled maintenance program or in response to emergencies, RefrigerantSide Services offer significant savings to customers due to their ability to be completed rapidly and at higher purity levels, and can be utilized while the customer’s system continues to operate. In addition, the Company sells refrigerants and provides traditional reclamation services to the commercial and industrial air conditioning and refrigeration markets. “

Several other equities analysts have also recently commented on the stock. BidaskClub raised shares of Hudson Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Roth Capital set a $10.00 price target on shares of Hudson Technologies and gave the stock a “buy” rating in a research report on Wednesday, June 28th. B. Riley set a $8.00 price target on shares of Hudson Technologies and gave the stock a “hold” rating in a research report on Wednesday. Finally, ValuEngine raised shares of Hudson Technologies from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $9.50.

Hudson Technologies (NASDAQ:HDSN) last issued its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. Hudson Technologies had a net margin of 12.80% and a return on equity of 16.99%. The business had revenue of $52.23 million for the quarter, compared to analysts’ expectations of $46.34 million.

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Hedge funds and other institutional investors have recently modified their holdings of the business. AXA bought a new position in Hudson Technologies in the first quarter worth about $106,000. SG Americas Securities LLC bought a new position in Hudson Technologies in the second quarter worth about $107,000. Sheaff Brock Investment Advisors LLC lifted its holdings in Hudson Technologies by 20.8% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 14,500 shares of the industrial products company’s stock worth $123,000 after acquiring an additional 2,500 shares during the last quarter. Gotham Asset Management LLC lifted its holdings in Hudson Technologies by 25.0% in the second quarter. Gotham Asset Management LLC now owns 14,956 shares of the industrial products company’s stock worth $126,000 after acquiring an additional 2,994 shares during the last quarter. Finally, Voya Investment Management LLC bought a new position in Hudson Technologies in the second quarter worth about $131,000. 75.66% of the stock is currently owned by hedge funds and other institutional investors.

Hudson Technologies Company Profile

Hudson Technologies, Inc is a refrigerant services company. The Company’s products and services are primarily used in commercial air conditioning, industrial processing and refrigeration systems, and include refrigerant and industrial gas sales, refrigerant management services consisting primarily of reclamation of refrigerants and RefrigerantSide Services performed at a customer’s site, consisting of system decontamination to remove moisture, oils and other contaminants.

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