Wall Street brokerages forecast that Hudson Technologies, Inc. (NASDAQ:HDSN) will report $34.47 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Hudson Technologies’ earnings, with the highest sales estimate coming in at $35.00 million and the lowest estimate coming in at $33.94 million. Hudson Technologies posted sales of $42.43 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 18.8%. The company is expected to report its next earnings results on Wednesday, May 8th.
On average, analysts expect that Hudson Technologies will report full year sales of $183.64 million for the current year, with estimates ranging from $179.79 million to $187.50 million. For the next fiscal year, analysts forecast that the company will post sales of $210.35 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Hudson Technologies.
Several research firms have issued reports on HDSN. TheStreet lowered Hudson Technologies from a “c-” rating to a “d” rating in a report on Tuesday, December 4th. Zacks Investment Research lowered Hudson Technologies from a “hold” rating to a “strong sell” rating in a report on Thursday, March 7th. Finally, ValuEngine raised Hudson Technologies from a “sell” rating to a “hold” rating in a report on Friday, December 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $4.00.
NASDAQ:HDSN traded up $0.03 during mid-day trading on Friday, hitting $1.90. 193,300 shares of the company traded hands, compared to its average volume of 259,206. Hudson Technologies has a one year low of $0.70 and a one year high of $5.54. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.44 and a current ratio of 2.09. The firm has a market capitalization of $79.24 million, a PE ratio of -8.26 and a beta of 1.92.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HDSN. Bank of New York Mellon Corp boosted its stake in shares of Hudson Technologies by 276.7% in the fourth quarter. Bank of New York Mellon Corp now owns 96,175 shares of the industrial products company’s stock worth $86,000 after acquiring an additional 70,646 shares during the period. Thompson Investment Management Inc. boosted its stake in shares of Hudson Technologies by 123.6% in the third quarter. Thompson Investment Management Inc. now owns 145,325 shares of the industrial products company’s stock worth $186,000 after acquiring an additional 80,325 shares during the period. Weber Alan W bought a new position in shares of Hudson Technologies in the fourth quarter worth about $273,000. Norges Bank bought a new position in shares of Hudson Technologies in the fourth quarter worth about $351,000. Finally, Virginia National Bank bought a new position in shares of Hudson Technologies in the third quarter worth about $635,000. 65.53% of the stock is 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.
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