Hudson Technologies, Inc. (NASDAQ:HDSN) Sees Large Decrease in Short Interest

Hudson Technologies, Inc. (NASDAQ:HDSN) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 733,300 shares, a decline of 9.0% from the October 15th total of 806,000 shares. Based on an average daily volume of 511,400 shares, the short-interest ratio is presently 1.4 days. Currently, 1.9% of the company’s stock are sold short.

Hudson Technologies Price Performance

HDSN traded down $0.09 during trading hours on Tuesday, reaching $5.80. 91,763 shares of the stock traded hands, compared to its average volume of 500,712. Hudson Technologies has a fifty-two week low of $5.35 and a fifty-two week high of $15.24. The company has a market cap of $262.16 million, a price-to-earnings ratio of 9.06, a PEG ratio of 0.34 and a beta of 1.22. The firm’s fifty day simple moving average is $7.56 and its two-hundred day simple moving average is $8.31.

Hudson Technologies (NASDAQ:HDSN) last issued its quarterly earnings results on Monday, November 4th. The industrial products company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Hudson Technologies had a return on equity of 12.74% and a net margin of 12.49%. The business had revenue of $61.94 million during the quarter, compared to the consensus estimate of $64.92 million. During the same period in the previous year, the business earned $0.34 EPS. On average, research analysts predict that Hudson Technologies will post 0.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Canaccord Genuity Group reduced their price objective on shares of Hudson Technologies from $8.75 to $8.00 and set a “hold” rating for the company in a research note on Tuesday, November 5th. Craig Hallum lowered shares of Hudson Technologies from a “buy” rating to a “hold” rating and lowered their target price for the stock from $10.00 to $7.00 in a research note on Tuesday, November 5th. B. Riley reaffirmed a “neutral” rating and set a $7.25 price objective (down from $8.50) on shares of Hudson Technologies in a report on Tuesday, November 5th. Roth Capital lowered shares of Hudson Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, Roth Mkm lowered 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 report on Tuesday, November 5th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.85.

Institutional Trading of Hudson Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Swedbank AB bought a new position in Hudson Technologies in the 1st quarter valued at about $1,652,000. Russell Investments Group Ltd. increased its holdings in shares of Hudson Technologies by 240,800.0% during the 1st quarter. Russell Investments Group Ltd. now owns 57,816 shares of the industrial products company’s stock worth $637,000 after purchasing an additional 57,792 shares during the period. Sixth Street Partners Management Company L.P. lifted its position in Hudson Technologies by 30.0% in the second 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 purchasing an additional 300,000 shares during the period. Commonwealth Equity Services LLC acquired a new stake in Hudson Technologies in the 2nd quarter valued at $687,000. Finally, Dimensional Fund Advisors LP grew its stake in Hudson Technologies by 22.0% during 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 buying an additional 364,117 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.