Hudson Technologies, Inc. (HDSN) Hits New 12-Month High Following Strong Earnings

Hudson Technologies, Inc. (NASDAQ:HDSN)’s share price reached a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $9.69 and last traded at $9.65, with a volume of 5,642,500 shares traded. The stock had previously closed at $7.96.

The industrial products company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. The firm had revenue of $52.23 million during the quarter, compared to the consensus estimate of $46.34 million. Hudson Technologies had a return on equity of 18.21% and a net margin of 12.80%.

Several research firms have commented on HDSN. Zacks Investment Research upgraded Hudson Technologies from a “sell” rating to a “hold” rating in a research report on Friday. B. Riley downgraded Hudson Technologies from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research report on Friday. Roth Capital set a $11.00 price objective on Hudson Technologies and gave the stock a “buy” rating in a research report on Thursday. BidaskClub downgraded Hudson Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, TheStreet upgraded Hudson Technologies from a “c+” rating to a “b” rating in a research report on Wednesday, May 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $9.50.

Several institutional investors have recently modified their holdings of the company. Royce & Associates LP increased its position in shares of Hudson Technologies by 5.6% in the first quarter. Royce & Associates LP now owns 752,817 shares of the industrial products company’s stock worth $4,969,000 after buying an additional 40,000 shares during the period. Systematic Financial Management LP increased its position in shares of Hudson Technologies by 48.9% in the first quarter. Systematic Financial Management LP now owns 893,795 shares of the industrial products company’s stock worth $5,899,000 after buying an additional 293,715 shares during the period. AXA bought a new position in shares of Hudson Technologies during the first quarter worth about $106,000. Airain ltd bought a new position in shares of Hudson Technologies during the first quarter worth about $118,000. Finally, Pitcairn Co. bought a new position in shares of Hudson Technologies during the first quarter worth about $234,000. Institutional investors own 76.23% of the company’s stock.

The stock has a 50-day moving average price of $8.55 and a 200 day moving average price of $7.67. The company has a market capitalization of $360.06 million, a P/E ratio of 20.26 and a beta of 1.12.

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About Hudson Technologies

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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