Allspring Global Investments Holdings LLC Purchases 100,613 Shares of Hudson Technologies, Inc. (NASDAQ:HDSN)

Allspring Global Investments Holdings LLC grew its position in shares of Hudson Technologies, Inc. (NASDAQ:HDSN) by 39.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 355,918 shares of the industrial products company’s stock after acquiring an additional 100,613 shares during the period. Allspring Global Investments Holdings LLC owned about 0.78% of Hudson Technologies worth $3,919,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Hudson Technologies in the third quarter valued at $867,000. Sixth Street Partners Management Company L.P. raised its stake in Hudson Technologies by 53.1% in the third quarter. Sixth Street Partners Management Company L.P. now owns 995,000 shares of the industrial products company’s stock worth $13,234,000 after buying an additional 345,000 shares in the last quarter. Riverwater Partners LLC bought a new position in shares of Hudson Technologies in the 4th quarter worth approximately $369,000. Arizona State Retirement System purchased a new position in shares of Hudson Technologies in the 4th quarter valued at approximately $154,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Hudson Technologies in the fourth quarter worth $163,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Hudson Technologies Stock Down 1.1 %

HDSN traded down $0.09 during mid-day trading on Tuesday, reaching $8.41. 23,958 shares of the company traded hands, compared to its average volume of 499,676. The stock has a market capitalization of $382.74 million, a P/E ratio of 8.67, a P/E/G ratio of 0.40 and a beta of 1.25. Hudson Technologies, Inc. has a 52-week low of $7.90 and a 52-week high of $15.24. The company’s fifty day moving average price is $9.34 and its 200-day moving average price is $11.47.

Hudson Technologies (NASDAQ:HDSN) last posted its earnings results on Wednesday, May 1st. The industrial products company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The company had revenue of $65.25 million for the quarter, compared to the consensus estimate of $63.04 million. Hudson Technologies had a return on equity of 21.59% and a net margin of 16.70%. During the same quarter in the prior year, the company earned $0.33 earnings per share. As a group, sell-side analysts forecast that Hudson Technologies, Inc. will post 0.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Vincent P. Abbatecola sold 10,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $9.20, for a total value of $92,000.00. Following the transaction, the director now directly owns 159,341 shares of the company’s stock, valued at approximately $1,465,937.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 8.20% of the company’s stock.

Analysts Set New Price Targets

HDSN has been the topic of a number of research reports. Canaccord Genuity Group cut shares of Hudson Technologies from a “buy” rating to a “hold” rating and dropped their target price for the company from $15.00 to $10.00 in a report on Thursday, May 2nd. Craig Hallum dropped their price target on Hudson Technologies from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Roth Mkm lowered their price objective on Hudson Technologies from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Canaccord Genuity Group reissued a “hold” rating and issued a $10.00 target price (down from $15.00) on shares of Hudson Technologies in a research note on Thursday, May 2nd. Finally, B. Riley decreased their target price on shares of Hudson Technologies from $17.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Hudson Technologies has a consensus rating of “Moderate Buy” and an average target price of $12.40.

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.