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

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

Analyst Upgrades and Downgrades

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

Hudson Technologies Stock Up 5.3 %

Shares of NASDAQ HDSN traded up $0.41 during trading on Wednesday, hitting $8.18. The company had a trading volume of 416,452 shares, compared to its average volume of 460,440. The firm has a market capitalization of $372.28 million, a price-to-earnings ratio of 8.35, a price-to-earnings-growth ratio of 0.44 and a beta of 1.20. The stock has a fifty day simple moving average of $8.00 and a two-hundred day simple moving average of $8.87. Hudson Technologies has a fifty-two week low of $6.94 and a fifty-two week high of $15.24.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HDSN. Vanguard Group Inc. grew its holdings in shares of Hudson Technologies by 1.7% during the first quarter. Vanguard Group Inc. now owns 2,280,462 shares of the industrial products company’s stock worth $25,108,000 after buying an additional 37,158 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Hudson Technologies by 22.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,019,067 shares of the industrial products company’s stock valued at $17,747,000 after acquiring an additional 364,117 shares during the last quarter. New South Capital Management Inc. purchased a new position in Hudson Technologies in the 2nd quarter worth approximately $11,564,000. Sixth Street Partners Management Company L.P. boosted its holdings in shares of Hudson Technologies by 30.0% during the 2nd 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 last quarter. Finally, Foundry Partners LLC grew its position in shares of Hudson Technologies by 39.3% in the second quarter. Foundry Partners LLC now owns 941,923 shares of the industrial products company’s stock valued at $8,280,000 after purchasing an additional 265,825 shares in the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

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.