Hudson Technologies (NASDAQ:HDSN) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Hudson Technologies (NASDAQ:HDSN) from a hold rating to a sell rating in a report published on Wednesday, 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, Roth Capital cut Hudson Technologies from a buy rating to a neutral rating and dropped their price objective for the company from $4.00 to $0.60 in a research report on Monday, August 12th.

NASDAQ HDSN traded down $0.01 during mid-day trading on Wednesday, reaching $0.64. The stock had a trading volume of 247,145 shares, compared to its average volume of 559,489. The stock has a market cap of $27.38 million, a PE ratio of -2.79 and a beta of 1.12. Hudson Technologies has a 1 year low of $0.30 and a 1 year high of $2.25. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.69 and a quick ratio of 0.27. The company has a fifty day moving average price of $0.62 and a 200 day moving average price of $0.79.

Hudson Technologies (NASDAQ:HDSN) last issued its earnings results on Thursday, November 14th. The industrial products company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.05). Hudson Technologies had a negative net margin of 14.37% and a negative return on equity of 34.93%. The business had revenue of $45.63 million for the quarter, compared to analysts’ expectations of $44.00 million. As a group, equities research analysts expect that Hudson Technologies will post -0.48 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Hudson Technologies by 62.1% during the second quarter. Vanguard Group Inc. now owns 1,701,343 shares of the industrial products company’s stock valued at $1,463,000 after purchasing an additional 651,755 shares during the period. BlackRock Inc. boosted its stake in shares of Hudson Technologies by 19.2% in the 2nd quarter. BlackRock Inc. now owns 961,981 shares of the industrial products company’s stock worth $827,000 after buying an additional 154,798 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new stake in shares of Hudson Technologies in the second quarter worth $123,000. Wells Fargo & Company MN grew its holdings in shares of Hudson Technologies by 16.5% in the second quarter. Wells Fargo & Company MN now owns 744,069 shares of the industrial products company’s stock worth $640,000 after acquiring an additional 105,467 shares during the period. Finally, Bard Associates Inc. increased its position in Hudson Technologies by 3.4% during the second quarter. Bard Associates Inc. now owns 840,025 shares of the industrial products company’s stock valued at $722,000 after acquiring an additional 27,425 shares during the last quarter. 44.59% of the stock is currently owned by hedge funds and other 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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