Kerrisdale Advisers LLC Acquires 242,354 Shares of Hudson Technologies, Inc. $HDSN

Kerrisdale Advisers LLC increased its holdings in Hudson Technologies, Inc. (NASDAQ:HDSN) by 420.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 299,976 shares of the industrial products company’s stock after acquiring an additional 242,354 shares during the quarter. Kerrisdale Advisers LLC’s holdings in Hudson Technologies were worth $1,722,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP increased its holdings in Hudson Technologies by 51.9% during the third quarter. Quarry LP now owns 5,281 shares of the industrial products company’s stock valued at $52,000 after buying an additional 1,805 shares during the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of Hudson Technologies during the 4th quarter valued at $62,000. Tower Research Capital LLC TRC grew its position in shares of Hudson Technologies by 177.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,715 shares of the industrial products company’s stock valued at $71,000 after acquiring an additional 5,576 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Hudson Technologies by 88.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,530 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 3,532 shares in the last quarter. Finally, State of Wyoming bought a new position in Hudson Technologies in the 2nd quarter worth $78,000. 71.34% of the stock is currently owned by institutional investors.

Hudson Technologies Price Performance

Shares of Hudson Technologies stock opened at $5.43 on Monday. The company has a market capitalization of $228.54 million, a price-to-earnings ratio of 27.15 and a beta of 0.78. The stock’s 50-day simple moving average is $5.91 and its 200-day simple moving average is $5.99. Hudson Technologies, Inc. has a 52 week low of $4.64 and a 52 week high of $10.52.

Hudson Technologies (NASDAQ:HDSN) last released its earnings results on Wednesday, August 5th. The industrial products company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.06). The business had revenue of $78.35 million for the quarter, compared to analysts’ expectations of $74.20 million. Hudson Technologies had a return on equity of 4.95% and a net margin of 3.51%. On average, equities analysts expect that Hudson Technologies, Inc. will post 0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Wall Street Zen downgraded Hudson Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings cut Hudson Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Finally, Canaccord Genuity Group decreased their price objective on Hudson Technologies from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $8.62.

Insider Transactions at Hudson Technologies

In related news, major shareholder Hartree Partners, Lp acquired 91,166 shares of Hudson Technologies stock in a transaction dated Tuesday, August 25th. The shares were purchased at an average price of $5.50 per share, for a total transaction of $501,413.00. Following the completion of the transaction, the insider directly owned 5,200,000 shares in the company, valued at approximately $28,600,000. This represents a 1.78% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have purchased 992,900 shares of company stock worth $5,795,021. Company insiders own 1.90% of the company’s stock.

Hudson Technologies Company Profile

Hudson Technologies, Inc is a U.S.-based provider of refrigerant management and sustainability solutions, specializing in the recovery, reclamation and recycling of refrigerant gases. The company’s core business centers on collecting used refrigerants—such as CFCs, HCFCs and HFCs—from industrial, commercial and institutional customers, processing them in certified reclamation facilities and returning material that meets industry purity standards.

Headquartered in Purchase, New York, Hudson Technologies operates a network of reclamation centers across the continental United States.