Hudson Technologies (NASDAQ:HDSN) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Hudson Technologies (NASDAQ:HDSN) announced its quarterly earnings data on Wednesday. The industrial products company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.06, FiscalAI reports. The business had revenue of $74.01 million for the quarter, compared to analyst estimates of $72.15 million. Hudson Technologies had a net margin of 8.08% and a return on equity of 7.26%.

Hudson Technologies Stock Down 3.1%

Shares of Hudson Technologies stock traded down $0.21 on Friday, hitting $6.49. 194,501 shares of the company were exchanged, compared to its average volume of 413,787. Hudson Technologies has a 1-year low of $5.11 and a 1-year high of $10.52. The stock has a market capitalization of $283.45 million, a price-to-earnings ratio of 16.24 and a beta of 0.91. The company has a 50-day moving average price of $9.52 and a 200 day moving average price of $8.54.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HDSN. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hudson Technologies in a research note on Wednesday, October 8th. Canaccord Genuity Group raised shares of Hudson Technologies from a “hold” rating to a “buy” rating and boosted their price objective for the company from $6.75 to $10.50 in a research report on Thursday, July 31st. Wall Street Zen lowered Hudson Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 25th. Zacks Research lowered shares of Hudson Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Finally, Craig Hallum cut shares of Hudson Technologies from a “buy” rating to a “hold” rating and set a $9.00 price objective for the company. in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.50.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HDSN. AQR Capital Management LLC raised its position in shares of Hudson Technologies by 7.2% during the 1st quarter. AQR Capital Management LLC now owns 591,645 shares of the industrial products company’s stock worth $3,650,000 after acquiring an additional 39,654 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Hudson Technologies during the first quarter worth about $97,000. Goldman Sachs Group Inc. grew its position in Hudson Technologies by 49.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 245,760 shares of the industrial products company’s stock worth $1,516,000 after purchasing an additional 80,973 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Hudson Technologies by 21.5% in the second quarter. Invesco Ltd. now owns 71,748 shares of the industrial products company’s stock valued at $583,000 after buying an additional 12,683 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in shares of Hudson Technologies by 87.7% during the 2nd quarter. Quantinno Capital Management LP now owns 45,416 shares of the industrial products company’s stock worth $369,000 after purchasing an additional 21,220 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.