Hudson Technologies, Inc. (HDSN) Sees Significant Growth in Short Interest
Hudson Technologies, Inc. (NASDAQ:HDSN) was the target of a significant growth in short interest during the month of October. As of October 13th, there was short interest totalling 6,769,040 shares, a growth of 29.3% from the September 29th total of 5,234,720 shares. Approximately 18.8% of the company’s stock are short sold. Based on an average daily volume of 1,455,659 shares, the days-to-cover ratio is currently 4.7 days.
Several equities analysts have issued reports on HDSN shares. Roth Capital set a $10.00 price target on shares of Hudson Technologies and gave the stock a “buy” rating in a report on Wednesday, June 28th. BidaskClub upgraded shares of Hudson Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Zacks Investment Research downgraded shares of Hudson Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. B. Riley downgraded shares of Hudson Technologies from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $8.50 to $10.00 in a research note on Wednesday, August 9th. Finally, ValuEngine upgraded shares of Hudson Technologies from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. Hudson Technologies currently has an average rating of “Hold” and a consensus target price of $9.50.
Shares of Hudson Technologies (NASDAQ:HDSN) opened at 5.94 on Thursday. The firm has a market capitalization of $247.32 million, a P/E ratio of 13.91 and a beta of 1.11. Hudson Technologies has a 1-year low of $5.55 and a 1-year high of $10.40. The stock’s 50 day moving average is $7.71 and its 200 day moving average is $8.03.
Hudson Technologies (NASDAQ:HDSN) last posted its earnings results on Wednesday, August 9th. The industrial products company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.06. The firm had revenue of $52.23 million for the quarter, compared to the consensus estimate of $46.34 million. Hudson Technologies had a net margin of 12.80% and a return on equity of 16.99%. Equities analysts predict that Hudson Technologies will post $0.32 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of HDSN. DnB Asset Management AS grew its position in shares of Hudson Technologies by 1,228.6% in the 2nd quarter. DnB Asset Management AS now owns 603,180 shares of the industrial products company’s stock valued at $5,097,000 after buying an additional 557,780 shares during the last quarter. State Street Corp purchased a new position in Hudson Technologies during the 2nd quarter worth $3,430,000. Systematic Financial Management LP grew its position in Hudson Technologies by 42.2% during the 2nd quarter. Systematic Financial Management LP now owns 1,270,735 shares of the industrial products company’s stock worth $10,738,000 after purchasing an additional 376,940 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Hudson Technologies by 33.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,442,918 shares of the industrial products company’s stock worth $9,523,000 after purchasing an additional 363,346 shares during the last quarter. Finally, West Face Capital Inc. grew its position in Hudson Technologies by 8.3% during the 2nd quarter. West Face Capital Inc. now owns 2,620,580 shares of the industrial products company’s stock worth $22,144,000 after purchasing an additional 200,000 shares during the last quarter. 76.42% of the stock is currently owned by hedge funds and other institutional investors.
Hudson Technologies Company Profile
Hudson Technologies, Inc is a refrigerant services company. The Company’s products and services are primarily used in commercial air conditioning, industrial processing and refrigeration systems, and include refrigerant and industrial gas sales, refrigerant management services consisting primarily of reclamation of refrigerants and RefrigerantSide Services performed at a customer’s site, consisting of system decontamination to remove moisture, oils and other contaminants.
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