Lazard Asset Management LLC Sells 105,854 Shares of Hudson Technologies, Inc. $HDSN

Lazard Asset Management LLC reduced its holdings in shares of Hudson Technologies, Inc. (NASDAQ:HDSN) by 24.5% during the 1st quarter, Holdings Channel.com reports. The fund owned 325,915 shares of the industrial products company’s stock after selling 105,854 shares during the period. Lazard Asset Management LLC’s holdings in Hudson Technologies were worth $1,916,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its position in shares of Hudson Technologies by 2.2% during the 1st quarter. First Trust Advisors LP now owns 145,083 shares of the industrial products company’s stock worth $853,000 after buying an additional 3,105 shares during the period. Dimensional Fund Advisors LP raised its stake in Hudson Technologies by 5.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,148,311 shares of the industrial products company’s stock worth $12,631,000 after acquiring an additional 105,160 shares in the last quarter. Fifth Third Bancorp acquired a new position in Hudson Technologies during the first quarter worth $179,000. Sequoia Financial Advisors LLC bought a new position in shares of Hudson Technologies during the first quarter valued at $82,000. Finally, Inspire Investing LLC lifted its holdings in shares of Hudson Technologies by 28.4% during the first quarter. Inspire Investing LLC now owns 88,086 shares of the industrial products company’s stock valued at $518,000 after acquiring an additional 19,503 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HDSN. Canaccord Genuity Group lowered their target price on shares of Hudson Technologies from $9.50 to $9.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Wall Street Zen downgraded shares of Hudson Technologies from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Weiss Ratings upgraded shares of Hudson Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 23rd. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $8.88.

Insider Activity

In related news, major shareholder Hartree Partners, Lp purchased 52,104 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was acquired at an average price of $5.99 per share, with a total value of $312,102.96. Following the completion of the acquisition, the insider directly owned 5,094,190 shares in the company, valued at approximately $30,514,198.10. This trade represents a 1.03% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey R. Feeler acquired 5,100 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of $4.92 per share, with a total value of $25,092.00. Following the transaction, the director directly owned 9,165 shares in the company, valued at $45,091.80. The trade was a 125.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 919,940 shares of company stock valued at $5,374,186 over the last three months. 1.90% of the stock is owned by insiders.

Hudson Technologies Stock Up 3.1%

Shares of NASDAQ HDSN opened at $6.23 on Tuesday. The firm’s 50-day simple moving average is $5.83 and its 200 day simple moving average is $6.21. The company has a market cap of $262.09 million, a price-to-earnings ratio of 20.10 and a beta of 0.78. Hudson Technologies, Inc. has a 12-month low of $4.64 and a 12-month high of $10.52.

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

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.