Cadence Capital Management LLC bought a new stake in Hudson Technologies, Inc. (NASDAQ:HDSN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 140,551 shares of the industrial products company’s stock, valued at approximately $1,188,000. Cadence Capital Management LLC owned approximately 0.34% of Hudson Technologies at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Segantii Capital Management Ltd increased its position in Hudson Technologies by 584.8% in the first quarter. Segantii Capital Management Ltd now owns 49,308 shares of the industrial products company’s stock valued at $325,000 after buying an additional 42,108 shares during the period. Laurion Capital Management LP purchased a new position in Hudson Technologies during the first quarter valued at $809,000. Elk Creek Partners LLC increased its position in Hudson Technologies by 16.4% in the first quarter. Elk Creek Partners LLC now owns 749,537 shares of the industrial products company’s stock valued at $4,947,000 after buying an additional 105,512 shares during the period. Royce & Associates LP increased its position in Hudson Technologies by 5.6% in the first quarter. Royce & Associates LP now owns 752,817 shares of the industrial products company’s stock valued at $4,969,000 after buying an additional 40,000 shares during the period. Finally, Systematic Financial Management LP increased its position in Hudson Technologies by 48.9% in the first quarter. Systematic Financial Management LP now owns 893,795 shares of the industrial products company’s stock valued at $5,899,000 after buying an additional 293,715 shares during the period. 74.39% of the stock is currently owned by institutional investors and hedge funds.
Hudson Technologies, Inc. (HDSN) opened at 8.55 on Friday. The stock has a market capitalization of $356.00 million, a P/E ratio of 20.02 and a beta of 1.12. The stock has a 50 day moving average of $8.57 and a 200 day moving average of $7.76. Hudson Technologies, Inc. has a 52-week low of $5.55 and a 52-week high of $10.40.
Hudson Technologies (NASDAQ:HDSN) last issued its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.06. Hudson Technologies had a return on equity of 16.99% and a net margin of 12.80%. The firm had revenue of $52.23 million for the quarter, compared to analyst estimates of $46.34 million. On average, equities research analysts forecast that Hudson Technologies, Inc. will post $0.40 EPS for the current year.
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Several research firms have recently weighed in on HDSN. BidaskClub raised shares of Hudson Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. B. Riley downgraded shares of Hudson Technologies from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a research report on Friday, August 11th. Zacks Investment Research raised shares of Hudson Technologies from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. TheStreet raised shares of Hudson Technologies from a “c+” rating to a “b” rating in a research report on Wednesday, May 31st. Finally, Roth Capital set a $10.00 target price on shares of Hudson Technologies and gave the stock a “buy” rating in a research report on Saturday, June 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Hudson Technologies currently has an average rating of “Hold” and an average target price of $9.50.
About Hudson Technologies
Hudson Technologies, Inc is a refrigerant services company. The Company’s products and services are primarily used in commercial air conditioning, industrial processing and refrigeration systems, and include refrigerant and industrial gas sales, refrigerant management services consisting primarily of reclamation of refrigerants and RefrigerantSide Services performed at a customer’s site, consisting of system decontamination to remove moisture, oils and other contaminants.
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