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

Hudson Technologies, Inc. (NASDAQ:HDSN) was the recipient of a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 638,800 shares, an increase of 32.6% from the November 15th total of 481,900 shares. Based on an average daily volume of 615,000 shares, the short-interest ratio is currently 1.0 days. Approximately 1.6% of the company’s stock are sold short.

Analysts Set New Price Targets

HDSN has been the subject of several recent analyst reports. Roth Capital downgraded Hudson Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 5th. B. Riley reissued a “neutral” rating and issued a $7.25 target price (down from $8.50) on shares of Hudson Technologies in a report on Tuesday, November 5th. Roth Mkm lowered shares of Hudson Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $12.00 to $7.00 in a research report on Tuesday, November 5th. Canaccord Genuity Group lowered their price target on shares of Hudson Technologies from $8.75 to $8.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. Finally, Craig Hallum cut 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 report on Tuesday, November 5th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $7.85.

Hedge Funds Weigh In On Hudson Technologies

A number of institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC raised its holdings in shares of Hudson Technologies by 20.2% during the second quarter. Sequoia Financial Advisors LLC now owns 13,700 shares of the industrial products company’s stock valued at $120,000 after acquiring an additional 2,300 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Hudson Technologies by 9.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 184,712 shares of the industrial products company’s stock worth $1,624,000 after purchasing an additional 15,392 shares in the last quarter. Legato Capital Management LLC purchased a new position in Hudson Technologies in the 2nd quarter worth about $109,000. Principal Financial Group Inc. raised its holdings in shares of Hudson Technologies by 10.3% during the second quarter. Principal Financial Group Inc. now owns 28,736 shares of the industrial products company’s stock valued at $253,000 after purchasing an additional 2,673 shares during the last quarter. Finally, Commonwealth Equity Services LLC bought a new position in shares of Hudson Technologies during the 2nd quarter valued at $687,000. Institutional investors own 71.34% of the company’s stock.

Hudson Technologies Stock Performance

Shares of HDSN stock traded down $0.13 during mid-day trading on Friday, hitting $5.62. The company’s stock had a trading volume of 970,455 shares, compared to its average volume of 511,629. The company has a market cap of $254.02 million, a PE ratio of 8.65, a P/E/G ratio of 0.36 and a beta of 1.13. Hudson Technologies has a 52 week low of $5.35 and a 52 week high of $15.24. The company’s fifty day simple moving average is $6.74 and its 200-day simple moving average is $7.85.

Hudson Technologies (NASDAQ:HDSN) last announced its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $61.94 million during the quarter, compared to the consensus estimate of $64.92 million. Hudson Technologies had a return on equity of 12.74% and a net margin of 12.49%. During the same quarter in the prior year, the company earned $0.34 EPS. On average, equities analysts anticipate that Hudson Technologies will post 0.55 earnings per share for the current year.

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.