Hudson Technologies, Inc. (NASDAQ:HDSN) Sees Significant Drop in Short Interest

Hudson Technologies, Inc. (NASDAQ:HDSN) was the recipient of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 481,900 shares, a decrease of 34.3% from the October 31st total of 733,300 shares. Based on an average daily trading volume, of 582,900 shares, the days-to-cover ratio is presently 0.8 days. Approximately 1.2% of the company’s stock are short sold.

Hedge Funds Weigh In On Hudson Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Koss Olinger Consulting LLC grew its stake in shares of Hudson Technologies by 3.6% in the third quarter. Koss Olinger Consulting LLC now owns 44,003 shares of the industrial products company’s stock worth $367,000 after acquiring an additional 1,513 shares during the period. Rhumbline Advisers boosted its holdings in Hudson Technologies by 2.6% in the second quarter. Rhumbline Advisers now owns 70,982 shares of the industrial products company’s stock worth $624,000 after purchasing an additional 1,770 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Hudson Technologies by 20.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 13,700 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 2,300 shares during the period. ClariVest Asset Management LLC raised its stake in Hudson Technologies by 2.8% during the 2nd quarter. ClariVest Asset Management LLC now owns 93,584 shares of the industrial products company’s stock valued at $823,000 after buying an additional 2,555 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Hudson Technologies by 10.3% during the 2nd quarter. Principal Financial Group Inc. now owns 28,736 shares of the industrial products company’s stock valued at $253,000 after buying an additional 2,673 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

Hudson Technologies Stock Up 0.2 %

Shares of HDSN opened at $5.88 on Friday. Hudson Technologies has a twelve month low of $5.35 and a twelve month high of $15.24. The company has a market capitalization of $265.78 million, a P/E ratio of 9.05, a price-to-earnings-growth ratio of 0.34 and a beta of 1.22. The firm has a 50 day moving average of $7.27 and a 200 day moving average of $8.15.

Hudson Technologies (NASDAQ:HDSN) last posted its earnings results on Monday, November 4th. The industrial products company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $61.94 million during the quarter, compared to analyst estimates of $64.92 million. Hudson Technologies had a return on equity of 12.74% and a net margin of 12.49%. During the same quarter last year, the company earned $0.34 EPS. On average, sell-side analysts expect that Hudson Technologies will post 0.57 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on HDSN shares. Roth Mkm lowered shares of Hudson Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $12.00 to $7.00 in a research note on Tuesday, November 5th. Craig Hallum lowered shares of Hudson Technologies from a “buy” rating to a “hold” rating and lowered their target price for the company from $10.00 to $7.00 in a report on Tuesday, November 5th. Canaccord Genuity Group dropped their price target on Hudson Technologies from $8.75 to $8.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. Roth Capital lowered Hudson Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, B. Riley reissued a “neutral” rating and issued a $7.25 target price (down from $8.50) on shares of Hudson Technologies in a report on Tuesday, November 5th. Six analysts have rated the stock with a hold rating, According to MarketBeat, Hudson Technologies presently has an average rating of “Hold” and an average price target of $7.85.

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.