Roth Capital Reiterates Buy on Hudson Technologies (HDSN) Following Channel Checks

Roth Capital reiterated a Buy rating and $6.50 price target on Hudson Technologies (NASDAQ: HDSN) following channel checks. The checks were conducted over the past week and were focused on reclaimers and distributors. Indications show continued strength in R-22 prices especially in the second half of June into July. Reclaimers for the most part indicate paying $7.00+ for gas and incrementally increasing prices as R-22 appreciates.

Analyst Gerry Sweeney commented, "We continue to be buyers of HDSN as channel checks indicate tightening supply of R-22, increased prices and improved levels of reclaim activity. YTD the stock has been in a narrow trading range despite continued positive market developments, which we believe is a function of “show me” and seasonality. However, with overall reclaim / price activity increasing our 2016/17 estimates look increasingly firm and the stock cheap (less than 14x 2016; less than 9x 2017)."

For an analyst ratings summary and ratings history on Hudson Technologies click here. For more ratings news on Hudson Technologies click here.

Shares of Hudson Technologies closed at $3.44 yesterday.

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