Hudson Technologies (NASDAQ:HDSN) Price Target Cut to $8.00 by Analysts at Canaccord Genuity Group

Hudson Technologies (NASDAQ:HDSN - Get Free Report) had its target price cut by research analysts at Canaccord Genuity Group from $8.75 to $8.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a "hold" rating on the industrial products company's stock. Canaccord Genuity Group's price target would indicate a potential upside of 35.14% from the stock's current price.

A number of other brokerages have also issued reports on HDSN. Craig Hallum lowered shares of Hudson Technologies from a "buy" rating to a "hold" rating and reduced their target price for the stock from $10.00 to $7.00 in a research report on Tuesday. B. Riley lowered shares of Hudson Technologies from a "buy" rating to a "neutral" rating and cut their price target for the company from $10.00 to $8.50 in a research note on Wednesday, October 30th. Finally, Roth Mkm downgraded Hudson Technologies from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $12.00 to $7.00 in a report on Tuesday. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $7.85.

Hudson Technologies Stock Performance

Shares of HDSN stock traded down $1.67 on Tuesday, reaching $5.92. 3,522,597 shares of the company's stock traded hands, compared to its average volume of 470,327. The company has a market capitalization of $269.48 million, a P/E ratio of 7.82, a price-to-earnings-growth ratio of 0.42 and a beta of 1.22. The business's 50 day moving average price is $7.98 and its two-hundred day moving average price is $8.61. Hudson Technologies has a 12-month low of $5.67 and a 12-month high of $15.24.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last posted its earnings results on Monday, November 4th. The industrial products company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. The firm had revenue of $61.94 million for the quarter, compared to the consensus estimate of $64.92 million. Hudson Technologies had a net margin of 14.00% and a return on equity of 16.65%. During the same period in the prior year, the business posted $0.34 earnings per share. Research analysts predict that Hudson Technologies will post 0.58 earnings per share for the current year.

Institutional Trading of Hudson Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Hudson Technologies by 1.7% in the first quarter. Vanguard Group Inc. now owns 2,280,462 shares of the industrial products company's stock valued at $25,108,000 after purchasing an additional 37,158 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Hudson Technologies by 22.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,019,067 shares of the industrial products company's stock worth $17,747,000 after purchasing an additional 364,117 shares during the last quarter. New South Capital Management Inc. raised its position in Hudson Technologies by 2.1% during the 3rd quarter. New South Capital Management Inc. now owns 1,343,172 shares of the industrial products company's stock valued at $11,202,000 after purchasing an additional 27,576 shares during the last quarter. 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 valued at $11,427,000 after acquiring an additional 300,000 shares in the last quarter. Finally, Foundry Partners LLC lifted its position 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 valued at $8,280,000 after buying an additional 265,825 shares during the period. 71.34% of the stock is owned by hedge funds and other institutional investors.

Hudson Technologies Company 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.