Short Interest in Hudson Technologies, Inc. (NASDAQ:HDSN) Drops By 34.3%

Hudson Technologies, Inc. (NASDAQ:HDSN - Get Free Report) was the target of a large drop in short interest in November. As of November 15th, there was short interest totalling 481,900 shares, a drop 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 shares of the stock are sold short.

Hudson Technologies Price Performance

Hudson Technologies stock traded up $0.06 during trading hours on Friday, hitting $5.94. 255,544 shares of the stock traded hands, compared to its average volume of 508,775. Hudson Technologies has a 1 year low of $5.35 and a 1 year high of $15.24. The firm's 50 day moving average price is $7.22 and its 200-day moving average price is $8.13. The stock has a market capitalization of $268.48 million, a price-to-earnings ratio of 9.14, a P/E/G ratio of 0.34 and a beta of 1.22.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last issued its earnings results on Monday, November 4th. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. Hudson Technologies had a net margin of 12.49% and a return on equity of 12.74%. The firm had revenue of $61.94 million during the quarter, compared to analysts' expectations of $64.92 million. During the same quarter last year, the company posted $0.34 earnings per share. Research analysts forecast that Hudson Technologies will post 0.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HDSN has been the topic of several research reports. Canaccord Genuity Group reduced their price target on shares of Hudson Technologies from $8.75 to $8.00 and set a "hold" rating on the stock in a research report on Tuesday, November 5th. B. Riley reiterated 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. Roth Capital downgraded Hudson Technologies from a "strong-buy" rating to a "hold" rating in a report on Tuesday, November 5th. Craig Hallum downgraded Hudson Technologies from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $10.00 to $7.00 in a report on Tuesday, November 5th. Finally, Roth Mkm downgraded shares of Hudson Technologies from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $12.00 to $7.00 in a research note on Tuesday, November 5th. Six analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $7.85.

Hedge Funds Weigh In On Hudson Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. New South Capital Management Inc. purchased a new position in Hudson Technologies during the second quarter valued at approximately $11,564,000. Dimensional Fund Advisors LP increased its holdings in shares of Hudson Technologies by 22.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,019,067 shares of the industrial products company's stock valued at $17,747,000 after purchasing an additional 364,117 shares in the last quarter. Sixth Street Partners Management Company L.P. increased its holdings in shares of Hudson Technologies by 30.0% during the 2nd quarter. Sixth Street Partners Management Company L.P. now owns 1,300,000 shares of the industrial products company's stock valued at $11,427,000 after purchasing an additional 300,000 shares in the last quarter. Foundry Partners LLC boosted its holdings in Hudson Technologies by 39.3% during the second quarter. Foundry Partners LLC now owns 941,923 shares of the industrial products company's stock worth $8,280,000 after buying an additional 265,825 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Hudson Technologies during the 2nd quarter worth about $1,537,000. Institutional investors and hedge funds 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.