B. Riley Downgrades Hudson Technologies (NASDAQ:HDSN) to Neutral

Hudson Technologies (NASDAQ:HDSN) was downgraded by stock analysts at B. Riley from a “buy” rating to a “neutral” rating in a report released on Wednesday, Briefing.com reports. They currently have a $8.50 price target on the industrial products company’s stock, down from their previous price target of $10.00. B. Riley’s price objective points to a potential upside of 6.78% from the stock’s current price.

Separately, Craig Hallum reduced their price target on Hudson Technologies from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.30.

Hudson Technologies Stock Down 4.0 %

Hudson Technologies stock opened at $7.96 on Wednesday. Hudson Technologies has a 52-week low of $6.94 and a 52-week high of $15.24. The company has a market cap of $362.27 million, a P/E ratio of 8.12, a P/E/G ratio of 0.46 and a beta of 1.20. The business has a 50-day simple moving average of $8.03 and a two-hundred day simple moving average of $8.69.

Hudson Technologies (NASDAQ:HDSN) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.05). Hudson Technologies had a net margin of 14.00% and a return on equity of 16.65%. The business had revenue of $75.28 million for the quarter, compared to analysts’ expectations of $78.63 million. During the same period in the prior year, the company posted $0.41 earnings per share. Research analysts anticipate that Hudson Technologies will post 0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Hudson Technologies

A number of hedge funds have recently made changes to their positions in the business. Swedbank AB purchased a new position in Hudson Technologies in the 1st quarter worth approximately $1,652,000. Russell Investments Group Ltd. lifted its holdings in shares of Hudson Technologies by 240,800.0% in the first quarter. Russell Investments Group Ltd. now owns 57,816 shares of the industrial products company’s stock worth $637,000 after buying an additional 57,792 shares in the last quarter. Sixth Street Partners Management Company L.P. boosted its position in shares of Hudson Technologies by 30.0% during the second quarter. Sixth Street Partners Management Company L.P. now owns 1,300,000 shares of the industrial products company’s stock worth $11,427,000 after acquiring an additional 300,000 shares during the last quarter. Commonwealth Equity Services LLC bought a new position in shares of Hudson Technologies during the second quarter worth $687,000. Finally, Dimensional Fund Advisors LP grew its stake in Hudson Technologies by 22.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,019,067 shares of the industrial products company’s stock valued at $17,747,000 after acquiring an additional 364,117 shares in the last quarter. 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.