Franklin Resources Inc. Cuts Stake in Hudson Technologies, Inc. (NASDAQ:HDSN)

Franklin Resources Inc. reduced its holdings in shares of Hudson Technologies, Inc. (NASDAQ:HDSN - Free Report) by 78.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,769 shares of the industrial products company's stock after selling 258,770 shares during the period. Franklin Resources Inc. owned 0.15% of Hudson Technologies worth $547,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of HDSN. nVerses Capital LLC bought a new position in Hudson Technologies in the 3rd quarter worth about $28,000. West Tower Group LLC purchased a new position in Hudson Technologies in the third quarter worth about $28,000. Quarry LP lifted its stake in shares of Hudson Technologies by 901.1% in the third quarter. Quarry LP now owns 4,675 shares of the industrial products company's stock worth $39,000 after buying an additional 4,208 shares in the last quarter. FMR LLC grew its holdings in shares of Hudson Technologies by 299.8% during the third quarter. FMR LLC now owns 4,670 shares of the industrial products company's stock valued at $39,000 after buying an additional 3,502 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of Hudson Technologies during the second quarter valued at approximately $55,000. Institutional investors own 71.34% of the company's stock.

Wall Street Analyst Weigh In

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

Hudson Technologies Stock Up 2.2 %

HDSN traded up $0.12 during trading on Tuesday, hitting $5.58. The company's stock had a trading volume of 519,565 shares, compared to its average volume of 512,177. The business's 50 day simple moving average is $6.13 and its 200-day simple moving average is $7.52. The firm has a market cap of $252.21 million, a PE ratio of 8.58, a P/E/G ratio of 0.36 and a beta of 1.13. Hudson Technologies, Inc. has a one year low of $5.17 and a one year high of $15.24.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. Hudson Technologies had a return on equity of 12.74% and a net margin of 12.49%. The business had revenue of $61.94 million during the quarter, compared to analyst estimates of $64.92 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. Equities research analysts expect that Hudson Technologies, Inc. will post 0.55 EPS for the current fiscal year.

Hudson Technologies Profile

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.