Hudson Technologies (HDSN) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Hudson Technologies (NASDAQ:HDSN) from a sell rating to a hold rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Hudson Technologies, Inc. is a leading provider of innovative solutions to recurring problems within the refrigeration industry. Hudson’s proprietary RefrigerantSide Services increase operating efficiency and energy savings, and remove moisture, oils and other contaminants frequently found in the refrigeration circuits of large comfort cooling and process refrigeration systems. Performed at a customer’s site as an integral part of an effective scheduled maintenance program or in response to emergencies, RefrigerantSide Services offer significant savings to customers due to their ability to be completed rapidly and at higher purity levels, and can be utilized while the customer’s system continues to operate. In addition, the Company sells refrigerants and provides traditional reclamation services to the commercial and industrial air conditioning and refrigeration markets. “

Separately, ValuEngine raised shares of Hudson Technologies from a hold rating to a buy rating in a report on Thursday, March 7th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of Buy.

Shares of HDSN stock traded up $0.02 on Friday, hitting $2.03. 693,819 shares of the company’s stock traded hands, compared to its average volume of 456,591. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.39 and a current ratio of 1.88. Hudson Technologies has a one year low of $0.70 and a one year high of $2.73. The firm has a market cap of $86.48 million, a P/E ratio of -8.83 and a beta of 1.83.

Hudson Technologies (NASDAQ:HDSN) last released its earnings results on Wednesday, March 6th. The industrial products company reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.02). Hudson Technologies had a negative net margin of 34.35% and a negative return on equity of 16.86%. The business had revenue of $25.72 million for the quarter, compared to the consensus estimate of $25.18 million. As a group, analysts forecast that Hudson Technologies will post -0.1 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new stake in Hudson Technologies in the 1st quarter worth $35,000. Charles Schwab Investment Management Inc. bought a new stake in Hudson Technologies in the 1st quarter worth $51,000. M&T Bank Corp bought a new stake in Hudson Technologies in the 1st quarter worth $123,000. Bank of New York Mellon Corp grew its holdings in Hudson Technologies by 276.7% in the 4th quarter. Bank of New York Mellon Corp now owns 96,175 shares of the industrial products company’s stock worth $86,000 after acquiring an additional 70,646 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in Hudson Technologies by 24.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 190,134 shares of the industrial products company’s stock worth $367,000 after acquiring an additional 37,116 shares during the last quarter. 63.74% of the stock is currently owned by institutional investors.

About Hudson Technologies

Hudson Technologies Inc operates as a refrigerant services company in the United States and internationally. It sells reclaimed and virgin refrigerants, and industrial gases; provides refrigerant management services, such as reclamation of refrigerants and laboratory testing, as well as re-usable cylinder refurbishment and hydrostatic testing services.

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