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

Hudson Technologies, Inc. (NASDAQ:HDSN) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 806,000 shares, a decline of 9.0% from the September 30th total of 886,000 shares. Based on an average daily volume of 405,600 shares, the short-interest ratio is currently 2.0 days. Currently, 2.0% of the shares of the company are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Hudson Technologies by 1.7% in the first quarter. Vanguard Group Inc. now owns 2,280,462 shares of the industrial products company’s stock valued at $25,108,000 after purchasing an additional 37,158 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Hudson Technologies by 22.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,019,067 shares of the industrial products company’s stock worth $17,747,000 after buying an additional 364,117 shares in the last quarter. New South Capital Management Inc. acquired a new stake in shares of Hudson Technologies in the 2nd quarter valued at approximately $11,564,000. Sixth Street Partners Management Company L.P. boosted its stake in shares of Hudson Technologies by 30.0% in the second quarter. Sixth Street Partners Management Company L.P. now owns 1,300,000 shares of the industrial products company’s stock valued at $11,427,000 after buying an additional 300,000 shares in the last quarter. Finally, Foundry Partners LLC grew its holdings in Hudson Technologies by 39.3% during the second quarter. Foundry Partners LLC now owns 941,923 shares of the industrial products company’s stock worth $8,280,000 after acquiring an additional 265,825 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Hudson Technologies Stock Up 0.5 %

HDSN opened at $7.67 on Friday. Hudson Technologies has a 52 week low of $6.94 and a 52 week high of $15.24. The business has a 50 day moving average price of $8.02 and a two-hundred day moving average price of $8.68. The company has a market cap of $349.15 million, a PE ratio of 9.96, a P/E/G ratio of 0.46 and a beta of 1.20.

Hudson Technologies (NASDAQ:HDSN) last released its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.05). Hudson Technologies had a return on equity of 16.65% and a net margin of 14.00%. The company had revenue of $75.28 million for the quarter, compared to analysts’ expectations of $78.63 million. During the same quarter last year, the company earned $0.41 EPS. As a group, sell-side analysts expect that Hudson Technologies will post 0.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HDSN. B. Riley downgraded Hudson Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $10.00 to $8.50 in a research note on Wednesday. Craig Hallum reduced their price target on shares of 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Hudson Technologies currently has a consensus rating of “Hold” and an average price target of $10.30.

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.