Hudson Technologies (NASDAQ:HDSN) Major Shareholder Hartree Partners, Lp Purchases 271,302 Shares of Stock

Hudson Technologies, Inc. (NASDAQ:HDSN) major shareholder Hartree Partners, Lp bought 271,302 shares of Hudson Technologies stock in a transaction dated Thursday, July 2nd. The stock was acquired at an average cost of $5.97 per share, for a total transaction of $1,619,672.94. Following the completion of the transaction, the insider directly owned 4,971,302 shares in the company, valued at approximately $29,678,672.94. This trade represents a 5.77% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Hartree Partners, Lp also recently made the following trade(s):

• On Wednesday, July 1st, Hartree Partners, Lp purchased 288,111 shares of Hudson Technologies stock. The shares were acquired at an average cost of $5.88 per share, with a total value of $1,694,092.68.
• On Tuesday, June 30th, Hartree Partners, Lp acquired 204,789 shares of Hudson Technologies stock. The shares were acquired at an average cost of $5.68 per share, for a total transaction of $1,163,201.52.

Hudson Technologies Price Performance

NASDAQ:HDSN opened at $5.99 on Friday. The firm has a market capitalization of $252.00 million, a P/E ratio of 19.32 and a beta of 0.78. Hudson Technologies, Inc. has a one year low of $4.64 and a one year high of $10.52. The company’s 50-day simple moving average is $5.55 and its 200 day simple moving average is $6.34.

Hudson Technologies (NASDAQ:HDSN) last announced its earnings results on Wednesday, May 6th. The industrial products company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). Hudson Technologies had a net margin of 5.66% and a return on equity of 6.98%. The business had revenue of $60.15 million for the quarter, compared to the consensus estimate of $57.15 million. On average, equities research analysts expect that Hudson Technologies, Inc. will post 0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hudson Technologies

A number of hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its stake in Hudson Technologies by 53,751.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 269,256 shares of the industrial products company’s stock valued at $1,844,000 after acquiring an additional 268,756 shares during the period. Tudor Investment Corp ET AL purchased a new stake in shares of Hudson Technologies during the 3rd quarter valued at about $2,058,000. KBC Group NV bought a new stake in shares of Hudson Technologies in the fourth quarter worth approximately $843,000. Pacific Ridge Capital Partners LLC grew its stake in shares of Hudson Technologies by 14.3% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 118,406 shares of the industrial products company’s stock worth $811,000 after acquiring an additional 14,826 shares during the period. Finally, Strs Ohio raised its holdings in shares of Hudson Technologies by 29.4% during the fourth quarter. Strs Ohio now owns 77,100 shares of the industrial products company’s stock valued at $528,000 after purchasing an additional 17,500 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Roth Mkm lowered their price objective on Hudson Technologies from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, March 6th. Wall Street Zen cut Hudson Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings downgraded Hudson Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. Canaccord Genuity Group lowered their price target on Hudson Technologies from $9.50 to $9.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Finally, B. Riley Financial dropped their price target on shares of Hudson Technologies from $10.50 to $9.50 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $8.88.

About Hudson Technologies

Hudson Technologies, Inc is a U.S.-based provider of refrigerant management and sustainability solutions, specializing in the recovery, reclamation and recycling of refrigerant gases. The company’s core business centers on collecting used refrigerants—such as CFCs, HCFCs and HFCs—from industrial, commercial and institutional customers, processing them in certified reclamation facilities and returning material that meets industry purity standards.

Headquartered in Purchase, New York, Hudson Technologies operates a network of reclamation centers across the continental United States.