Cardinal Point Capital Management ULC Makes New $104,000 Investment in Hudson Technologies, Inc. $HDSN

Cardinal Point Capital Management ULC purchased a new position in shares of Hudson Technologies, Inc. (NASDAQ:HDSN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,850 shares of the industrial products company’s stock, valued at approximately $104,000.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Hudson Technologies by 111.8% during the first quarter. GAMMA Investing LLC now owns 4,970 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 2,624 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Hudson Technologies in the first quarter valued at approximately $79,000. CWM LLC grew its holdings in shares of Hudson Technologies by 186.9% in the first quarter. CWM LLC now owns 14,102 shares of the industrial products company’s stock valued at $87,000 after purchasing an additional 9,187 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Hudson Technologies in the first quarter valued at approximately $97,000. Finally, EP Wealth Advisors LLC grew its holdings in shares of Hudson Technologies by 29.7% in the first quarter. EP Wealth Advisors LLC now owns 16,519 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 3,785 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Hudson Technologies Price Performance

Hudson Technologies stock opened at $9.51 on Friday. Hudson Technologies, Inc. has a 1-year low of $5.11 and a 1-year high of $10.52. The stock has a market cap of $415.30 million, a PE ratio of 23.78 and a beta of 0.96. The stock’s fifty day moving average is $9.70 and its two-hundred day moving average is $8.32.

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Wall Street Zen cut Hudson Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Zacks Research lowered Hudson Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Canaccord Genuity Group raised Hudson Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $6.75 to $10.50 in a research report on Thursday, July 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hudson Technologies in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.63.

Hudson Technologies 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.