Hudson Technologies, Inc. (NASDAQ:HDSN) Sees Large Decrease in Short Interest

Hudson Technologies, Inc. (NASDAQ:HDSN) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 733,300 shares, a decrease of 9.0% from the October 15th total of 806,000 shares. Currently, 1.9% of the company’s shares are short sold. Based on an average trading volume of 511,400 shares, the days-to-cover ratio is currently 1.4 days.

Analysts Set New Price Targets

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

Hudson Technologies Price Performance

Shares of HDSN traded down $0.06 during mid-day trading on Monday, hitting $5.89. 420,270 shares of the company’s stock were exchanged, compared to its average volume of 502,546. Hudson Technologies has a 52 week low of $5.35 and a 52 week high of $15.24. The company has a 50-day simple moving average of $7.56 and a 200 day simple moving average of $8.31. The company has a market cap of $266.23 million, a PE ratio of 9.06, a P/E/G ratio of 0.34 and a beta of 1.22.

Hudson Technologies (NASDAQ:HDSN) last announced its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Hudson Technologies had a net margin of 12.49% and a return on equity of 12.74%. The company had revenue of $61.94 million during the quarter, compared to the consensus estimate of $64.92 million. During the same quarter last year, the firm posted $0.34 EPS. On average, analysts anticipate that Hudson Technologies will post 0.57 earnings per share for the current year.

Institutional Investors Weigh In On Hudson Technologies

Several institutional investors and hedge funds have recently bought and sold shares of HDSN. BNP Paribas Financial Markets raised its position in Hudson Technologies by 37.3% in the first quarter. BNP Paribas Financial Markets now owns 21,704 shares of the industrial products company’s stock valued at $239,000 after purchasing an additional 5,894 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Hudson Technologies by 240,800.0% in the 1st quarter. Russell Investments Group Ltd. now owns 57,816 shares of the industrial products company’s stock worth $637,000 after acquiring an additional 57,792 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Hudson Technologies by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 2,280,462 shares of the industrial products company’s stock worth $25,108,000 after acquiring an additional 37,158 shares during the last quarter. Senator Investment Group LP bought a new position in shares of Hudson Technologies in the first quarter valued at approximately $1,101,000. Finally, Truvestments Capital LLC boosted its holdings in shares of Hudson Technologies by 1,662.7% in the 1st quarter. Truvestments Capital LLC now owns 31,729 shares of the industrial products company’s stock worth $349,000 after buying an additional 29,929 shares during the last quarter. Institutional investors own 71.34% 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.