Hudson Technologies (NASDAQ:HDSN) Price Target Cut to $10.00 by Analysts at Canaccord Genuity Group

Hudson Technologies (NASDAQ:HDSN) had its price target decreased by investment analysts at Canaccord Genuity Group from $10.50 to $10.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Canaccord Genuity Group’s target price points to a potential upside of 42.96% from the stock’s current price.

Several other analysts have also commented on HDSN. Craig Hallum lowered shares of Hudson Technologies from a “buy” rating to a “hold” rating and set a $9.00 price objective on the stock. in a research report on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of Hudson Technologies in a research note on Wednesday, October 8th. Zacks Research lowered Hudson Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Finally, Wall Street Zen downgraded Hudson Technologies from a “buy” rating to a “hold” rating in a research report on Saturday. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $9.33.

Hudson Technologies Trading Up 2.1%

Shares of HDSN stock traded up $0.15 during trading on Monday, hitting $7.00. The company’s stock had a trading volume of 553,594 shares, compared to its average volume of 418,076. The company has a market cap of $305.46 million, a PE ratio of 17.49 and a beta of 0.91. The business has a fifty day moving average of $9.46 and a 200-day moving average of $8.59. Hudson Technologies has a 52 week low of $5.11 and a 52 week high of $10.52.

Hudson Technologies (NASDAQ:HDSN) last posted its quarterly earnings data on Wednesday, November 5th. The industrial products company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.06. The business had revenue of $74.01 million for the quarter, compared to analysts’ expectations of $72.15 million. Hudson Technologies had a return on equity of 7.26% and a net margin of 8.08%. As a group, research analysts predict that Hudson Technologies will post 0.55 EPS for the current year.

Hedge Funds Weigh In On Hudson Technologies

Hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its position in shares of 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 valued at $1,516,000 after purchasing an additional 80,973 shares during the last quarter. Isthmus Partners LLC purchased a new stake in Hudson Technologies in the first quarter worth approximately $187,000. Victory Capital Management Inc. grew its position in Hudson Technologies by 41.0% during the first quarter. Victory Capital Management Inc. now owns 102,308 shares of the industrial products company’s stock valued at $631,000 after acquiring an additional 29,756 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Hudson Technologies by 1.9% during the second quarter. Public Employees Retirement System of Ohio now owns 410,099 shares of the industrial products company’s stock worth $3,330,000 after acquiring an additional 7,690 shares in the last quarter. Finally, Hartree Partners LP bought a new stake in shares of Hudson Technologies in the 1st quarter worth approximately $22,046,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Hudson Technologies Company 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.