Bank of New York Mellon Corp Has $1.62 Million Stock Position in Hudson Technologies, Inc. (NASDAQ:HDSN)

Bank of New York Mellon Corp increased its holdings in shares of Hudson Technologies, Inc. (NASDAQ:HDSN) by 9.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 184,712 shares of the industrial products company’s stock after purchasing an additional 15,392 shares during the period. Bank of New York Mellon Corp’s holdings in Hudson Technologies were worth $1,624,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Sequoia Financial Advisors LLC grew its stake in Hudson Technologies by 20.2% during the second quarter. Sequoia Financial Advisors LLC now owns 13,700 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 2,300 shares during the period. BNP Paribas Financial Markets grew its stake in Hudson Technologies by 37.3% during the first quarter. BNP Paribas Financial Markets now owns 21,704 shares of the industrial products company’s stock worth $239,000 after purchasing an additional 5,894 shares during the period. Janney Montgomery Scott LLC grew its stake in Hudson Technologies by 17.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 61,104 shares of the industrial products company’s stock worth $824,000 after purchasing an additional 9,297 shares during the period. Virtu Financial LLC acquired a new stake in Hudson Technologies during the first quarter worth approximately $114,000. Finally, Saxon Interests Inc. acquired a new stake in Hudson Technologies during the first quarter worth approximately $163,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on HDSN shares. B. Riley reduced their price objective on Hudson Technologies from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Craig Hallum reduced their price objective on Hudson Technologies from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.60.

Hudson Technologies Stock Performance

Shares of Hudson Technologies stock opened at $8.37 on Thursday. Hudson Technologies, Inc. has a 52 week low of $6.94 and a 52 week high of $15.24. The stock has a 50 day moving average price of $8.27 and a two-hundred day moving average price of $9.44. The stock has a market capitalization of $380.93 million, a PE ratio of 8.64, a price-to-earnings-growth ratio of 0.45 and a beta of 1.21.

Hudson Technologies (NASDAQ:HDSN) last announced its earnings results on Tuesday, August 6th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.05). The company had revenue of $75.28 million for the quarter, compared to analysts’ expectations of $78.63 million. Hudson Technologies had a net margin of 14.00% and a return on equity of 16.65%. During the same period in the previous year, the firm earned $0.41 EPS. Research analysts forecast that Hudson Technologies, Inc. will post 0.58 EPS for the current year.

About Hudson Technologies

Hudson Technologies, Inc, through its subsidiary, Hudson Technologies Company, engages in the provision of solutions to recurring problems within the refrigeration industry in the United States. The company engages in the sale of refrigerant and industrial gas; provision of refrigerant management services consisting primarily of reclamation of refrigerants, re-usable cylinder refurbishment, and hydrostatic testing services; and RefrigerantSide services comprising system decontamination and recovery to remove moisture, oils, and other contaminants.