Hudson Technologies (NASDAQ:HDSN) Downgraded to "Neutral" Rating by B. Riley

B. Riley downgraded shares of Hudson Technologies (NASDAQ:HDSN - Free Report) from a buy rating to a neutral rating in a report published on Wednesday, Marketbeat Ratings reports. They currently have $8.50 price target on the industrial products company's stock, down from their prior price target of $10.00.

Separately, Craig Hallum cut their price target on shares of Hudson Technologies from $13.00 to $10.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $10.30.

Hudson Technologies Price Performance

Shares of NASDAQ HDSN traded down $0.33 during mid-day trading on Wednesday, reaching $7.63. 622,718 shares of the company traded hands, compared to its average volume of 455,502. Hudson Technologies has a fifty-two week low of $6.94 and a fifty-two week high of $15.24. The firm has a market cap of $347.25 million, a PE ratio of 7.79, a price-to-earnings-growth ratio of 0.46 and a beta of 1.20. The stock has a fifty day simple moving average of $8.03 and a 200-day simple moving average of $8.69.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.05). The firm had revenue of $75.28 million for the quarter, compared to analyst estimates of $78.63 million. Hudson Technologies had a net margin of 14.00% and a return on equity of 16.65%. During the same quarter last year, the business posted $0.41 earnings per share. As a group, analysts predict that Hudson Technologies will post 0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Hudson Technologies

A number of institutional investors have recently bought and sold shares of HDSN. New South Capital Management Inc. purchased a new stake in shares of Hudson Technologies in the second quarter valued at $11,564,000. Lazard Asset Management LLC acquired a new position in Hudson Technologies during the first quarter valued at $4,549,000. Dimensional Fund Advisors LP lifted its stake in Hudson Technologies by 22.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,019,067 shares of the industrial products company's stock worth $17,747,000 after acquiring an additional 364,117 shares in the last quarter. Foundry Partners LLC boosted its position in Hudson Technologies by 81.0% during the 1st quarter. Foundry Partners LLC now owns 676,098 shares of the industrial products company's stock worth $7,444,000 after acquiring an additional 302,529 shares during the period. Finally, Sixth Street Partners Management Company L.P. boosted its position in 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 worth $11,427,000 after acquiring an additional 300,000 shares during the period. Hedge funds and other 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.