Short Interest in Hudson Technologies, Inc. (NASDAQ:HDSN) Declines By 16.3%

Hudson Technologies, Inc. (NASDAQ:HDSN) was the target of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 534,700 shares, a drop of 16.3% from the November 30th total of 638,800 shares. Based on an average daily volume of 649,400 shares, the short-interest ratio is currently 0.8 days. Currently, 1.4% of the company’s shares are sold short.

Hudson Technologies Price Performance

HDSN traded down $0.01 during trading on Friday, reaching $5.40. The company had a trading volume of 302,149 shares, compared to its average volume of 512,167. The company has a market cap of $244.07 million, a P/E ratio of 8.31, a PEG ratio of 0.36 and a beta of 1.13. Hudson Technologies has a 12 month low of $5.17 and a 12 month high of $15.24. The business’s fifty day moving average price is $6.24 and its 200 day moving average price is $7.58.

Hudson Technologies (NASDAQ:HDSN) last issued its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $61.94 million for the quarter, compared to analyst estimates of $64.92 million. Hudson Technologies had a net margin of 12.49% and a return on equity of 12.74%. During the same period last year, the business posted $0.34 earnings per share. As a group, sell-side analysts predict that Hudson Technologies will post 0.55 EPS for the current fiscal year.

Institutional Trading of Hudson Technologies

Institutional investors have recently modified their holdings of the company. Koss Olinger Consulting LLC lifted its position in shares of Hudson Technologies by 3.6% in the third quarter. Koss Olinger Consulting LLC now owns 44,003 shares of the industrial products company’s stock worth $367,000 after purchasing an additional 1,513 shares in the last quarter. Rhumbline Advisers increased its stake in Hudson Technologies by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 70,982 shares of the industrial products company’s stock valued at $624,000 after buying an additional 1,770 shares during the last quarter. ClariVest Asset Management LLC lifted its position in Hudson Technologies by 2.8% during the 2nd quarter. ClariVest Asset Management LLC now owns 93,584 shares of the industrial products company’s stock worth $823,000 after buying an additional 2,555 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Hudson Technologies by 10.3% during the 2nd quarter. Principal Financial Group Inc. now owns 28,736 shares of the industrial products company’s stock worth $253,000 after buying an additional 2,673 shares during the last quarter. Finally, West Tower Group LLC bought a new position in shares of Hudson Technologies in the 3rd quarter valued at about $28,000. 71.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HDSN. B. Riley reaffirmed a “neutral” rating and issued a $7.25 price target (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 target price for the company from $10.00 to $7.00 in a research note on Tuesday, November 5th. Roth Mkm cut shares of Hudson Technologies from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $12.00 to $7.00 in a research report on Tuesday, November 5th. Canaccord Genuity Group lowered their price objective on shares of Hudson Technologies from $8.75 to $8.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. Finally, Roth Capital downgraded Hudson Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.85.

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.