B. Riley Cuts Hudson Technologies (NASDAQ:HDSN) Price Target to $10.00

Hudson Technologies (NASDAQ:HDSN) had its price objective cut by investment analysts at B. Riley from $13.00 to $10.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. B. Riley’s target price would suggest a potential upside of 26.74% from the stock’s previous close.

Several other analysts have also recently commented on the company. Canaccord Genuity Group cut Hudson Technologies from a “buy” rating to a “hold” rating and decreased their target price for the stock from $15.00 to $10.00 in a research report on Thursday, May 2nd. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $10.00 target price (down previously from $15.00) on shares of Hudson Technologies in a research report on Thursday, May 2nd. Craig Hallum decreased their target price on Hudson Technologies from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, Roth Mkm decreased their target price on Hudson Technologies from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.60.

Hudson Technologies Price Performance

Shares of HDSN traded up $0.35 during trading hours on Wednesday, hitting $7.89. 772,596 shares of the company were exchanged, compared to its average volume of 482,744. The company has a market capitalization of $359.08 million, a PE ratio of 8.22, a PEG ratio of 0.38 and a beta of 1.26. The firm has a fifty day simple moving average of $8.79 and a 200-day simple moving average of $10.64. Hudson Technologies has a one year low of $6.94 and a one year high of $15.24.

Hudson Technologies (NASDAQ:HDSN) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $0.20 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 21.59% and a net margin of 16.70%. During the same period in the prior year, the business earned $0.41 earnings per share. Sell-side analysts expect that Hudson Technologies will post 0.73 EPS for the current year.

Insider Activity at Hudson Technologies

In related news, Director Vincent P. Abbatecola sold 10,000 shares of Hudson Technologies stock in a transaction on Friday, June 14th. The stock was sold at an average price of $9.20, for a total transaction of $92,000.00. Following the completion of the sale, the director now owns 159,341 shares of the company’s stock, valued at $1,465,937.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Hudson Technologies

Institutional investors have recently bought and sold shares of the stock. Swedbank AB bought a new position in Hudson Technologies during the first quarter valued at about $1,652,000. Russell Investments Group Ltd. raised its holdings in Hudson Technologies by 240,800.0% during the first quarter. Russell Investments Group Ltd. now owns 57,816 shares of the industrial products company’s stock valued at $637,000 after buying an additional 57,792 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Hudson Technologies by 39.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 355,918 shares of the industrial products company’s stock valued at $3,919,000 after buying an additional 100,613 shares in the last quarter. Navellier & Associates Inc. raised its holdings in Hudson Technologies by 59.0% during the fourth quarter. Navellier & Associates Inc. now owns 114,099 shares of the industrial products company’s stock valued at $1,539,000 after buying an additional 42,330 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Hudson Technologies by 364.8% during the fourth quarter. Victory Capital Management Inc. now owns 48,314 shares of the industrial products company’s stock valued at $652,000 after buying an additional 37,919 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors.

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.