Craig Hallum Upgrades Hudson Technologies (NASDAQ:HDSN) to “Buy”

Hudson Technologies (NASDAQ:HDSN) was upgraded by analysts at Craig Hallum from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage presently has a $8.00 price objective on the industrial products company’s stock. Craig Hallum’s target price suggests a potential upside of 7.53% from the stock’s current price.

Separately, Canaccord Genuity Group decreased their price target on Hudson Technologies from $8.00 to $6.25 and set a “hold” rating for the company in a research report on Monday, March 10th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.25.

Hudson Technologies Trading Down 4.6 %

Shares of NASDAQ:HDSN opened at $7.44 on Thursday. Hudson Technologies has a 1-year low of $5.11 and a 1-year high of $10.04. The stock has a market cap of $327.18 million, a PE ratio of 11.45, a price-to-earnings-growth ratio of 0.49 and a beta of 0.92. The stock’s fifty day simple moving average is $6.01 and its two-hundred day simple moving average is $5.99.

Hudson Technologies (NASDAQ:HDSN) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.06 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $52.23 million. On average, sell-side analysts forecast that Hudson Technologies will post 0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Hudson Technologies by 4.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 127,725 shares of the industrial products company’s stock worth $788,000 after purchasing an additional 5,669 shares during the period. Victory Capital Management Inc. raised its stake in shares of Hudson Technologies by 41.0% in the first quarter. Victory Capital Management Inc. now owns 102,308 shares of the industrial products company’s stock valued at $631,000 after buying an additional 29,756 shares during the period. Isthmus Partners LLC purchased a new position in shares of Hudson Technologies during the 1st quarter valued at $187,000. CWM LLC grew its stake in shares of Hudson Technologies by 186.9% during the 1st quarter. CWM LLC now owns 14,102 shares of the industrial products company’s stock worth $87,000 after acquiring an additional 9,187 shares during the period. Finally, New South Capital Management Inc. increased its holdings in Hudson Technologies by 12.3% in the 1st quarter. New South Capital Management Inc. now owns 1,483,719 shares of the industrial products company’s stock worth $9,155,000 after acquiring an additional 162,002 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

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.