Hudson Technologies (NASDAQ:HDSN) Downgraded by Canaccord Genuity Group

Canaccord Genuity Group downgraded shares of Hudson Technologies (NASDAQ:HDSN) from a buy rating to a hold rating in a report released on Thursday, MarketBeat.com reports. Canaccord Genuity Group currently has $10.00 price objective on the industrial products company’s stock, down from their prior price objective of $15.00.

Several other research firms also recently commented on HDSN. B. Riley decreased their price objective on Hudson Technologies from $17.00 to $16.00 and set a buy rating for the company in a report on Thursday, March 7th. Roth Mkm decreased their price objective on Hudson Technologies from $14.00 to $13.00 and set a buy rating for the company in a report on Wednesday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $12.40.

Hudson Technologies Price Performance

Shares of Hudson Technologies stock traded up $0.03 during midday trading on Thursday, reaching $9.13. The company had a trading volume of 1,091,323 shares, compared to its average volume of 653,188. The stock has a fifty day moving average price of $11.48 and a 200 day moving average price of $12.49. The firm has a market cap of $415.51 million, a PE ratio of 9.32, a P/E/G ratio of 0.41 and a beta of 1.00. Hudson Technologies has a fifty-two week low of $7.21 and a fifty-two week high of $15.24.

Hudson Technologies (NASDAQ:HDSN) last posted its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The company had revenue of $65.25 million for the quarter, compared to analyst estimates of $63.04 million. Hudson Technologies had a return on equity of 22.00% and a net margin of 16.70%. During the same period in the previous year, the firm earned $0.33 earnings per share. As a group, sell-side analysts forecast that Hudson Technologies will post 0.74 EPS for the current year.

Institutional Investors Weigh In On Hudson Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of HDSN. GSA Capital Partners LLP bought a new stake in shares of Hudson Technologies during the first quarter valued at about $819,000. Janney Montgomery Scott LLC increased its holdings in 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 worth $824,000 after acquiring an additional 13,732 shares during the period. BNP Paribas Financial Markets increased its holdings in Hudson Technologies by 37.3% during the 1st quarter. BNP Paribas Financial Markets now owns 21,704 shares of the industrial products company’s stock worth $239,000 after acquiring an additional 5,894 shares during the period. Peterson Wealth Services lifted its stake in 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 purchasing an additional 30,213 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Hudson Technologies during the 1st quarter valued at $126,000. Institutional investors own 71.34% of the company’s stock.

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.