Hudson Technologies (NASDAQ:HDSN) Price Target Cut to $8.00 by Analysts at Canaccord Genuity Group

Hudson Technologies (NASDAQ:HDSN) had its price objective reduced by stock analysts at Canaccord Genuity Group from $8.75 to $8.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the industrial products company’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 36.05% from the stock’s current price.

Several other analysts have also recently commented on HDSN. Roth Mkm cut Hudson Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the company from $12.00 to $7.00 in a report on Tuesday. Craig Hallum lowered shares of Hudson Technologies from a “buy” rating to a “hold” rating and reduced their price objective for the company from $10.00 to $7.00 in a research note on Tuesday. Finally, B. Riley downgraded shares of Hudson Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $10.00 to $8.50 in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Hudson Technologies presently has a consensus rating of “Hold” and a consensus price target of $7.85.

Hudson Technologies Stock Performance

HDSN stock opened at $5.88 on Tuesday. The company has a market capitalization of $267.66 million, a P/E ratio of 9.05, a PEG ratio of 0.43 and a beta of 1.22. The company has a fifty day moving average price of $7.89 and a 200-day moving average price of $8.56. Hudson Technologies has a 52-week low of $5.35 and a 52-week high of $15.24.

Hudson Technologies (NASDAQ:HDSN) last announced its earnings results on Monday, November 4th. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. Hudson Technologies had a return on equity of 12.94% and a net margin of 12.49%. The business had revenue of $61.94 million during the quarter, compared to analyst estimates of $64.92 million. During the same period last year, the company earned $0.34 EPS. As a group, sell-side analysts forecast that Hudson Technologies will post 0.58 earnings per share for the current fiscal year.

Institutional Trading of Hudson Technologies

Several large investors have recently modified their holdings of the stock. nVerses Capital LLC bought a new position in Hudson Technologies during the third quarter worth $28,000. Point72 DIFC Ltd acquired a new position in shares of Hudson Technologies during the second quarter valued at about $55,000. Quest Partners LLC boosted its position in shares of Hudson Technologies by 121.5% during the 2nd quarter. Quest Partners LLC now owns 7,905 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 4,336 shares in the last quarter. Bleakley Financial Group LLC acquired a new stake in shares of Hudson Technologies in the 3rd quarter valued at about $96,000. Finally, Creative Planning acquired a new stake in shares of Hudson Technologies in the 3rd quarter valued at about $106,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.