Allspring Global Investments Holdings LLC Increases Stock Position in Hudson Technologies, Inc. (NASDAQ:HDSN)

Allspring Global Investments Holdings LLC grew its stake in Hudson Technologies, Inc. (NASDAQ:HDSN) by 39.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm 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’s holdings in Hudson Technologies were worth $3,919,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in HDSN. Tower Research Capital LLC TRC lifted its stake in Hudson Technologies by 417.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,954 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 5,610 shares in the last quarter. Paradice Investment Management LLC acquired a new position in Hudson Technologies during the 4th quarter worth about $154,000. Arizona State Retirement System purchased a new position in Hudson Technologies during the 4th quarter valued at about $154,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Hudson Technologies in the 4th quarter valued at about $163,000. Finally, Peterson Wealth Services purchased a new stake in Hudson Technologies during the fourth quarter worth about $207,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Canaccord Genuity Group lowered shares of Hudson Technologies from a “buy” rating to a “hold” rating and lowered their price objective for the company from $15.00 to $10.00 in a research note on Thursday, May 2nd. B. Riley dropped their price target on shares of Hudson Technologies from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, March 7th. Canaccord Genuity Group reiterated a “hold” rating and issued a $10.00 price objective (down from $15.00) on shares of Hudson Technologies in a research note on Thursday, May 2nd. Roth Mkm lowered their target price 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. Finally, Craig Hallum reduced 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Hudson Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $12.40.

Hudson Technologies Trading Down 1.1 %

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

Hudson Technologies (NASDAQ:HDSN) last issued its earnings results on Wednesday, May 1st. The industrial products company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. The business had revenue of $65.25 million for the quarter, compared to analyst estimates 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 last year, the company earned $0.33 EPS. On average, sell-side analysts forecast that Hudson Technologies, Inc. will post 0.74 earnings per share for the current year.

Insider Transactions at Hudson Technologies

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

Hudson Technologies 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.