Hudson Technologies, Inc. (NASDAQ:HDSN) Short Interest Down 9.0% in October

Hudson Technologies, Inc. (NASDAQ:HDSN) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 733,300 shares, a decline of 9.0% from the October 15th total of 806,000 shares. Based on an average daily volume of 511,400 shares, the days-to-cover ratio is currently 1.4 days. Approximately 1.9% of the company’s shares are short sold.

Hudson Technologies Price Performance

Hudson Technologies stock traded down $0.09 during mid-day trading on Tuesday, hitting $5.80. 91,763 shares of the company’s stock traded hands, compared to its average volume of 500,712. Hudson Technologies has a fifty-two week low of $5.35 and a fifty-two week high of $15.24. The stock has a market cap of $262.16 million, a price-to-earnings ratio of 9.06, a P/E/G ratio of 0.34 and a beta of 1.22. The firm has a 50 day simple moving average of $7.56 and a two-hundred day simple moving average of $8.31.

Hudson Technologies (NASDAQ:HDSN) last issued its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $61.94 million during the quarter, compared to analysts’ expectations of $64.92 million. Hudson Technologies had a return on equity of 12.74% and a net margin of 12.49%. During the same quarter in the previous year, the company posted $0.34 earnings per share. On average, research analysts anticipate that Hudson Technologies will post 0.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HDSN. B. Riley reissued a “neutral” rating and set a $7.25 target price (down from $8.50) on shares of Hudson Technologies in a research note on Tuesday, November 5th. Craig Hallum downgraded shares of Hudson Technologies from a “buy” rating to a “hold” rating and lowered their price objective for the company from $10.00 to $7.00 in a report on Tuesday, November 5th. Roth Capital lowered shares of Hudson Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Roth Mkm downgraded shares of Hudson Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $12.00 to $7.00 in a research note on Tuesday, November 5th. Finally, Canaccord Genuity Group dropped their target price on Hudson Technologies from $8.75 to $8.00 and set a “hold” rating on the stock in a report on Tuesday, November 5th. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $7.85.

Institutional Investors Weigh In On Hudson Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the company. nVerses Capital LLC acquired a new stake in Hudson Technologies in the 3rd quarter worth about $28,000. West Tower Group LLC acquired a new stake in Hudson Technologies during the third quarter worth approximately $28,000. Quarry LP increased its stake in Hudson Technologies by 901.1% during the 3rd quarter. Quarry LP now owns 4,675 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 4,208 shares during the period. FMR LLC raised its holdings in Hudson Technologies by 299.8% in the 3rd quarter. FMR LLC now owns 4,670 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 3,502 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of Hudson Technologies during the 2nd quarter valued at $55,000. 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.