Short Interest in Hudson Technologies, Inc. (NASDAQ:HDSN) Drops By 9.0%

Hudson Technologies, Inc. (NASDAQ:HDSN) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 806,000 shares, a drop of 9.0% from the September 30th total of 886,000 shares. Currently, 2.0% of the company’s stock are sold short. Based on an average daily volume of 405,600 shares, the days-to-cover ratio is presently 2.0 days.

Institutional Trading of Hudson Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new position in shares of Hudson Technologies in the 1st quarter worth approximately $287,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Hudson Technologies during the first quarter worth $126,000. Peterson Wealth Services lifted its position in shares of Hudson Technologies by 196.6% in the 1st quarter. Peterson Wealth Services now owns 45,577 shares of the industrial products company’s stock worth $502,000 after buying an additional 30,213 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Hudson Technologies by 37.3% in the 1st quarter. BNP Paribas Financial Markets now owns 21,704 shares of the industrial products company’s stock valued at $239,000 after buying an additional 5,894 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in shares of Hudson Technologies by 22.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 74,836 shares of the industrial products company’s stock valued at $824,000 after buying an additional 13,732 shares during the last quarter. 71.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HDSN. B. Riley downgraded Hudson Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $10.00 to $8.50 in a research report on Wednesday. Craig Hallum reduced their target price on shares of Hudson Technologies from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.30.

Hudson Technologies Stock Up 0.5 %

Shares of HDSN traded up $0.04 during trading on Thursday, reaching $7.67. The company’s stock had a trading volume of 395,989 shares, compared to its average volume of 455,219. Hudson Technologies has a twelve month low of $6.94 and a twelve month high of $15.24. The company has a market cap of $349.15 million, a price-to-earnings ratio of 9.96, a P/E/G ratio of 0.46 and a beta of 1.20. The company has a fifty day moving average of $8.02 and a two-hundred day moving average of $8.68.

Hudson Technologies (NASDAQ:HDSN) last posted its quarterly earnings data 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). The company had revenue of $75.28 million for the quarter, compared to the consensus estimate of $78.63 million. Hudson Technologies had a net margin of 14.00% and a return on equity of 16.65%. During the same quarter last year, the company earned $0.41 earnings per share. As a group, equities analysts forecast that Hudson Technologies will post 0.58 EPS for the current fiscal year.

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.