Kerrisdale Advisers LLC Acquires 242,354 Shares of Hudson Technologies, Inc. $HDSN

Kerrisdale Advisers LLC increased its holdings in Hudson Technologies, Inc. (NASDAQ:HDSN) by 420.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 299,976 shares of the industrial products company’s stock after acquiring an additional 242,354 shares during the quarter. Kerrisdale Advisers LLC owned about 0.71% of Hudson Technologies worth $1,722,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its stake in shares of Hudson Technologies by 7.2% during the 1st quarter. AQR Capital Management LLC now owns 591,645 shares of the industrial products company’s stock valued at $3,650,000 after purchasing an additional 39,654 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Hudson Technologies in the first quarter worth about $97,000. Goldman Sachs Group Inc. boosted its position in Hudson Technologies by 49.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 245,760 shares of the industrial products company’s stock valued at $1,516,000 after acquiring an additional 80,973 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Hudson Technologies by 21.5% during the 2nd quarter. Invesco Ltd. now owns 71,748 shares of the industrial products company’s stock worth $583,000 after acquiring an additional 12,683 shares during the period. Finally, Quantinno Capital Management LP raised its position in shares of Hudson Technologies by 87.7% in the 2nd quarter. Quantinno Capital Management LP now owns 45,416 shares of the industrial products company’s stock worth $369,000 after acquiring an additional 21,220 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on HDSN shares. Wall Street Zen cut Hudson Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Canaccord Genuity Group dropped their target price on shares of Hudson Technologies from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Finally, Weiss Ratings downgraded shares of Hudson Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.62.

Hudson Technologies Stock Performance

NASDAQ HDSN opened at $5.43 on Monday. Hudson Technologies, Inc. has a 12 month low of $4.64 and a 12 month high of $10.52. The stock’s fifty day moving average price is $5.91 and its 200-day moving average price is $5.99. The stock has a market cap of $228.54 million, a P/E ratio of 27.15 and a beta of 0.78.

Hudson Technologies (NASDAQ:HDSN) last announced its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.06). The firm had revenue of $78.35 million for the quarter, compared to analysts’ expectations of $74.20 million. Hudson Technologies had a net margin of 3.51% and a return on equity of 4.95%. As a group, analysts forecast that Hudson Technologies, Inc. will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hudson Technologies news, major shareholder Hartree Partners, Lp acquired 288,111 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were acquired at an average cost of $5.88 per share, with a total value of $1,694,092.68. Following the transaction, the insider owned 4,700,000 shares of the company’s stock, valued at $27,636,000. The trade was a 6.53% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have purchased 992,900 shares of company stock valued at $5,795,021. 1.90% of the stock is owned by insiders.

Hudson Technologies Profile

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.