Zacks Investment Research Upgrades Hudson Technologies (HDSN) to Hold
Zacks Investment Research upgraded shares of Hudson Technologies (NASDAQ:HDSN) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.
According to Zacks, “Hudson Technologies, Inc. is a leading provider of innovative solutions to recurring problems within the refrigeration industry. Hudson’s proprietary RefrigerantSide Services increase operating efficiency and energy savings, and remove moisture, oils and other contaminants frequently found in the refrigeration circuits of large comfort cooling and process refrigeration systems. Performed at a customer’s site as an integral part of an effective scheduled maintenance program or in response to emergencies, RefrigerantSide Services offer significant savings to customers due to their ability to be completed rapidly and at higher purity levels, and can be utilized while the customer’s system continues to operate. In addition, the Company sells refrigerants and provides traditional reclamation services to the commercial and industrial air conditioning and refrigeration markets. “
Other analysts have also issued reports about the stock. B. Riley set a $8.00 target price on shares of Hudson Technologies and gave the company a hold rating in a research note on Wednesday, October 11th. ValuEngine raised shares of Hudson Technologies from a hold rating to a buy rating in a research note on Wednesday, December 20th. Finally, Roth Capital set a $11.00 target price on shares of Hudson Technologies and gave the company a buy rating in a research note on Thursday, October 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Hudson Technologies has a consensus rating of Hold and a consensus price target of $9.25.
Hudson Technologies (NASDAQ:HDSN) last issued its earnings results on Wednesday, November 8th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.02. The firm had revenue of $24.70 million during the quarter, compared to analyst estimates of $25.00 million. Hudson Technologies had a net margin of 11.69% and a return on equity of 12.58%. The business’s revenue was down 29.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 earnings per share. sell-side analysts predict that Hudson Technologies will post 0.3 earnings per share for the current fiscal year.
In other news, Director Richard Parrillo acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was purchased at an average cost of $5.80 per share, for a total transaction of $58,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 18.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in HDSN. Schwab Charles Investment Management Inc. bought a new stake in shares of Hudson Technologies in the second quarter valued at about $505,000. Rhumbline Advisers bought a new stake in shares of Hudson Technologies in the second quarter valued at about $298,000. SG Americas Securities LLC bought a new stake in shares of Hudson Technologies in the second quarter valued at about $107,000. Bank of New York Mellon Corp raised its holdings in shares of Hudson Technologies by 62.6% in the second quarter. Bank of New York Mellon Corp now owns 206,128 shares of the industrial products company’s stock valued at $1,741,000 after acquiring an additional 79,376 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC raised its holdings in shares of Hudson Technologies by 20.8% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 14,500 shares of the industrial products company’s stock valued at $123,000 after acquiring an additional 2,500 shares in the last quarter. Hedge funds and other institutional investors own 76.04% of the company’s stock.
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Hudson Technologies Company Profile
Hudson Technologies, Inc is a refrigerant services company. The Company’s products and services are primarily used in commercial air conditioning, industrial processing and refrigeration systems, and include refrigerant and industrial gas sales, refrigerant management services consisting primarily of reclamation of refrigerants and RefrigerantSide Services performed at a customer’s site, consisting of system decontamination to remove moisture, oils and other contaminants.
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