Legato Capital Management LLC Makes New Investment in Hudson Technologies, Inc. (NASDAQ:HDSN)

Legato Capital Management LLC acquired a new stake in Hudson Technologies, Inc. (NASDAQ:HDSN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 12,427 shares of the industrial products company’s stock, valued at approximately $109,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Virtu Financial LLC purchased a new stake in Hudson Technologies in the first quarter valued at $114,000. Paradice Investment Management LLC purchased a new stake in shares of Hudson Technologies in the fourth quarter worth about $154,000. Sequoia Financial Advisors LLC acquired a new stake in Hudson Technologies during the first quarter worth about $126,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Hudson Technologies during the fourth quarter valued at approximately $163,000. Finally, Saxon Interests Inc. purchased a new position in Hudson Technologies during the first quarter valued at approximately $163,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Canaccord Genuity Group reaffirmed a “hold” rating and set a $10.00 price objective (down previously from $15.00) on shares of Hudson Technologies in a research note on Thursday, May 2nd. B. Riley decreased their price objective 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. Canaccord Genuity Group cut Hudson Technologies from a “buy” rating to a “hold” rating and dropped their target price for the company from $15.00 to $10.00 in a research report on Thursday, May 2nd. Roth Mkm cut their price target on Hudson Technologies from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Finally, Craig Hallum lowered their price target on Hudson Technologies from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.60.

Hudson Technologies Stock Performance

Shares of HDSN stock traded down $0.03 on Tuesday, reaching $8.25. 125,005 shares of the company were exchanged, compared to its average volume of 477,318. Hudson Technologies, Inc. has a 1 year low of $6.94 and a 1 year high of $15.24. The business has a 50-day moving average price of $8.46 and a 200 day moving average price of $10.18. The company has a market cap of $375.47 million, a price-to-earnings ratio of 8.45, a P/E/G ratio of 0.38 and a beta of 1.26.

Hudson Technologies (NASDAQ:HDSN) last posted its quarterly earnings data 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). The firm had revenue of $75.28 million during the quarter, compared to analyst estimates of $78.63 million. Hudson Technologies had a net margin of 16.70% and a return on equity of 21.59%. During the same period in the prior year, the company posted $0.41 earnings per share. As a group, equities analysts anticipate that Hudson Technologies, Inc. will post 0.73 earnings per share for the current year.

Insider Activity at Hudson Technologies

In related news, Director Vincent P. Abbatecola sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were 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 directly owns 159,341 shares in the company, valued at $1,465,937.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 8.20% of the company’s stock.

About Hudson Technologies

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.