Short Interest in Hudson Technologies, Inc. (NASDAQ:HDSN) Decreases By 7.4%

Hudson Technologies, Inc. (NASDAQ:HDSN) was the target of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 886,000 shares, a decrease of 7.4% from the September 15th total of 956,900 shares. Currently, 2.3% of the company’s shares are sold short. Based on an average daily volume of 406,000 shares, the days-to-cover ratio is presently 2.2 days.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. B. Riley reduced their price objective on shares of Hudson Technologies from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Craig Hallum reduced their price target on shares of Hudson Technologies from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.60.

Hudson Technologies Trading Up 5.3 %

HDSN stock traded up $0.41 during trading on Wednesday, hitting $8.18. 416,452 shares of the company’s stock were exchanged, compared to its average volume of 460,440. The stock has a market capitalization of $372.28 million, a price-to-earnings ratio of 8.35, a PEG ratio of 0.44 and a beta of 1.20. Hudson Technologies has a 52-week low of $6.94 and a 52-week high of $15.24. The business has a 50-day moving average price of $8.00 and a two-hundred day moving average price of $8.87.

Hudson Technologies (NASDAQ:HDSN) last posted its earnings results on Tuesday, August 6th. The industrial products company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.05). Hudson Technologies had a net margin of 14.00% and a return on equity of 16.65%. The company had revenue of $75.28 million during the quarter, compared to analysts’ expectations of $78.63 million. During the same period last year, the business earned $0.41 earnings per share. On average, equities research analysts anticipate that Hudson Technologies will post 0.58 earnings per share for the current fiscal year.

Institutional Trading of Hudson Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in HDSN. Allspring Global Investments Holdings LLC grew its stake in Hudson Technologies by 39.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 355,918 shares of the industrial products company’s stock worth $3,919,000 after buying an additional 100,613 shares during the last quarter. Saxon Interests Inc. acquired a new position in shares of Hudson Technologies in the 1st quarter valued at $163,000. Principal Financial Group Inc. purchased a new stake in Hudson Technologies in the 1st quarter valued at $287,000. Sequoia Financial Advisors LLC purchased a new stake in Hudson Technologies in the 1st quarter valued at $126,000. Finally, Peterson Wealth Services boosted its stake in Hudson Technologies by 196.6% during the 1st quarter. Peterson Wealth Services now owns 45,577 shares of the industrial products company’s stock worth $502,000 after purchasing an additional 30,213 shares during the period. Institutional investors and hedge funds 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.