Hudson Technologies, Inc. (NASDAQ:HDSN) Receives $12.40 Consensus Target Price from Analysts

Shares of Hudson Technologies, Inc. (NASDAQ:HDSN) have been given an average recommendation of “Moderate Buy” by the five analysts that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $12.40.

HDSN has been the topic of a number of research analyst reports. Roth Mkm lowered their price target on Hudson Technologies from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Craig Hallum dropped their price target on Hudson Technologies from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Canaccord Genuity Group reissued a “hold” rating and issued a $10.00 price objective (down from $15.00) on shares of Hudson Technologies in a research note on Thursday, May 2nd. Canaccord Genuity Group cut Hudson Technologies from a “buy” rating to a “hold” rating and dropped their target price for the stock from $15.00 to $10.00 in a report on Thursday, May 2nd. Finally, B. Riley dropped their price target on shares of Hudson Technologies from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, March 7th.

Hudson Technologies Stock Performance

NASDAQ:HDSN opened at $8.66 on Friday. The stock has a 50-day simple moving average of $9.41 and a two-hundred day simple moving average of $11.55. The firm has a market capitalization of $394.12 million, a PE ratio of 8.84, a P/E/G ratio of 0.39 and a beta of 1.06. Hudson Technologies has a 52-week low of $7.90 and a 52-week high of $15.24.

Hudson Technologies (NASDAQ:HDSN) last issued its earnings results on Wednesday, May 1st. The industrial products company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. Hudson Technologies had a net margin of 16.70% and a return on equity of 21.59%. The company had revenue of $65.25 million during the quarter, compared to the consensus estimate of $63.04 million. During the same quarter in the prior year, the firm posted $0.33 EPS. Equities analysts forecast that Hudson Technologies will post 0.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Vincent P. Abbatecola sold 10,000 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $9.20, for a total value of $92,000.00. Following the completion of the sale, the director now owns 159,341 shares in the company, valued at approximately $1,465,937.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hudson Technologies

A number of large investors have recently bought and sold shares of HDSN. Navellier & Associates Inc. lifted its position in Hudson Technologies by 59.0% during the fourth quarter. Navellier & Associates Inc. now owns 114,099 shares of the industrial products company’s stock valued at $1,539,000 after acquiring an additional 42,330 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Hudson Technologies by 364.8% in the fourth quarter. Victory Capital Management Inc. now owns 48,314 shares of the industrial products company’s stock worth $652,000 after buying an additional 37,919 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of Hudson Technologies during the 3rd quarter worth approximately $172,000. Pacific Ridge Capital Partners LLC grew its position in Hudson Technologies by 117.9% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 63,130 shares of the industrial products company’s stock valued at $852,000 after buying an additional 34,164 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Hudson Technologies during the 4th quarter valued at about $163,000. Institutional investors 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.