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

Hudson Technologies, Inc. (NASDAQ:HDSN) was the recipient of a large decrease in short interest in October. As of October 15th, there was short interest totalling 806,000 shares, a decrease 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. Approximately 2.0% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. B. Riley cut Hudson Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $10.00 to $8.50 in a report on Wednesday. Craig Hallum lowered their target price on Hudson Technologies from $13.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $10.30.

Hudson Technologies Trading Up 0.5 %

Shares of NASDAQ HDSN traded up $0.04 during mid-day trading on Thursday, hitting $7.67. The company had a trading volume of 395,989 shares, compared to its average volume of 455,219. The company has a market capitalization of $349.15 million, a PE ratio of 9.96, a price-to-earnings-growth ratio of 0.46 and a beta of 1.20. The firm has a 50-day simple moving average of $8.02 and a two-hundred day simple moving average of $8.68. Hudson Technologies has a one year low of $6.94 and a one year high of $15.24.

Hudson Technologies (NASDAQ:HDSN) last announced 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 during the quarter, compared to the consensus estimate of $78.63 million. Hudson Technologies had a net margin of 14.00% and a return on equity of 16.65%. During the same quarter in the previous year, the business earned $0.41 EPS. Sell-side analysts expect that Hudson Technologies will post 0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hudson Technologies

Hedge funds have recently modified their holdings of the stock. Ballentine Partners LLC bought a new position in Hudson Technologies during the third quarter worth about $247,000. Koss Olinger Consulting LLC grew its holdings in Hudson Technologies by 3.6% during the third quarter. Koss Olinger Consulting LLC now owns 44,003 shares of the industrial products company’s stock worth $367,000 after purchasing an additional 1,513 shares during the period. Bleakley Financial Group LLC bought a new position in Hudson Technologies during the third quarter worth about $96,000. nVerses Capital LLC bought a new position in Hudson Technologies during the third quarter worth about $28,000. Finally, Creative Planning bought a new position in Hudson Technologies during the third quarter worth about $106,000. 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.