B. Riley lowered the firm’s price target on Hudson Technologies (HDSN) to $7.25 from $8.50 and keeps a Neutral rating on the shares. Prices of hydrofluorocarbons have remained under pressure throughout 2024 with refigerant prices down 20% quarter over quarter, and Hudson’s Q3 revenue was below the firm’s estimate and gross margin was also down 430 basis points quarter over quarter, the analyst tells investors in a research note. While HFC prices have declined more than management anticipated, the firm thinks prices are now at or below production cost, which could help stem further pricing declines, but is waiting on the sidelines until pricing visibility into the 2025 selling season improves.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HDSN:
- Craig-Hallum downgrades Hudson Technologies to Hold, lowers target to $7
- Hudson Technologies downgraded to Neutral from Buy at Roth MKM
- Hudson Technologies downgraded to Hold from Buy at Craig-Hallum
- Hudson Technologies price target lowered to $8 from $8.75 at Canaccord
- Hudson Technologies Reports Third Quarter 2024 Financial Results