Hudson Technologies Inc. (HDSN) Rating Lowered to Hold at Zacks Investment Research
Hudson Technologies Inc. (NASDAQ:HDSN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Hudson Technologies, Inc. is a leading provider of innovative solutions to recurring problems within the refrigeration industry. Hudson’s proprietary RefrigerantSide Services increase operating efficiency and energy savings, and remove moisture, oils and other contaminants frequently found in the refrigeration circuits of large comfort cooling and process refrigeration systems. Performed at a customer’s site as an integral part of an effective scheduled maintenance program or in response to emergencies, RefrigerantSide Services offer significant savings to customers due to their ability to be completed rapidly and at higher purity levels, and can be utilized while the customer’s system continues to operate. In addition, the Company sells refrigerants and provides traditional reclamation services to the commercial and industrial air conditioning and refrigeration markets. “
Other research analysts have also issued research reports about the stock. B. Riley reiterated a “buy” rating and set a $7.50 price objective on shares of Hudson Technologies in a research note on Saturday, August 6th. Roth Capital reiterated a “buy” rating and set a $6.50 price objective on shares of Hudson Technologies in a research note on Sunday, July 17th.
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Shares of Hudson Technologies (NASDAQ:HDSN) traded down 2.45% on Wednesday, hitting $6.37. The company had a trading volume of 209,622 shares. The company has a market cap of $214.11 million, a price-to-earnings ratio of 27.70 and a beta of 1.19. The company has a 50 day moving average of $6.17 and a 200-day moving average of $4.37. Hudson Technologies has a 12-month low of $2.64 and a 12-month high of $6.79.
Hudson Technologies (NASDAQ:HDSN) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.03. Hudson Technologies had a net margin of 8.54% and a return on equity of 14.90%. The business had revenue of $34.60 million for the quarter, compared to analyst estimates of $34.24 million. On average, analysts forecast that Hudson Technologies will post $0.29 earnings per share for the current year.
In other Hudson Technologies news, Director Richard Parrillo sold 21,200 shares of Hudson Technologies stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $4.93, for a total value of $104,516.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Nat Krishnamurti sold 5,218 shares of Hudson Technologies stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $6.07, for a total transaction of $31,673.26. Following the completion of the transaction, the chief financial officer now owns 14,000 shares in the company, valued at approximately $84,980. The disclosure for this sale can be found here. 24.40% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of HDSN. Thompson Davis & CO. Inc. raised its position in Hudson Technologies by 6.0% in the second quarter. Thompson Davis & CO. Inc. now owns 35,500 shares of the company’s stock valued at $128,000 after buying an additional 2,000 shares during the period. B. Riley Financial Inc. acquired a new position in Hudson Technologies during the second quarter valued at about $134,000. Mesirow Financial Investment Management Equity Management acquired a new position in Hudson Technologies during the second quarter valued at about $191,000. Coe Capital Management LLC acquired a new position in Hudson Technologies during the second quarter valued at about $194,000. Finally, BlackRock Fund Advisors raised its position in Hudson Technologies by 12.8% in the second quarter. BlackRock Fund Advisors now owns 72,995 shares of the company’s stock valued at $263,000 after buying an additional 8,265 shares during the period. Hedge funds and other institutional investors own 57.34% of the company’s stock.
Hudson Technologies Company Profile
Hudson Technologies, Inc is a refrigerant services company. The Company provides solutions to recurring problems within the refrigeration industry. Its products and services include refrigerant and industrial gas sales; refrigerant management services, which consist of reclamation of refrigerants, and RefrigerantSide services, which consist of system decontamination.
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