Canaccord Genuity analyst Austin Moeller maintained a buy score on Hudson Tech (HDSN – Research Report), maintaining the price target of $15. 00.
Austin Moeller assigned his buy score due to a combination of points observed in the market dynamics surrounding Hudson Tech (HDSN) stock. The underlying reason is based on the effects of a national survey of HVAC technicians and companies, which reveals an unexpected lack of awareness of the effect of the AIM Act on HFC refrigerant materials, and most industry players are not yet stockpiling. This idea, coupled with anecdotal evidence suggesting that a minority are preemptively securing more materials in anticipation of long-term shortages, suggests that an increase in demand could be imminent as the warmer months approach and legislated resource cuts begin to be felt.
In addition, Moeller’s confidence in the buy note is bolstered by the reported increase in the average value of HFC refrigerants, which exceeded the average reported through Hudson Tech and the values observed in the previous quarter. Prices have risen across the market, with diversifications reflecting geographical differences in living standards. This pricing trend, especially as the cooling season approaches, indicates a potential earnings expansion for Hudson Tech, as demand for its products is likely to increase when seasonal air conditioning maintenance wants to increase.
Moeller covers the commercial sector, focusing on stocks such as Intuitive Machines, Spire Global, and Lilium. According to TipRanks, Moeller has an average return of 0. 8% and a good luck rate of 40. 63% on stocks.
TipRanks tracks over 100,000 business experts, identifying the select few that stand out at the time of their trades. By upgrading to TipRanks Premium, have access to this exclusive knowledge and observe very important information to advise your investment decisions. Start your TipRanks Premium adventure today.
Hudson Tech (HDSN) Company Description:
Hudson Technologies, Inc. operates as a refrigeration company providing answers to recurring disruptions within the refrigeration industry. Their products are used in advertising air conditioning, advertising procedures, and refrigeration systems, which come with the sale of refrigerants; refrigerant control consisting mainly of refrigerant recovery; and on the refrigerant side made at the customer’s facility to remove moisture, oils and other contaminants. The company also offers predictions and diagnostics through the Chiller Chemistry and Chill Smart brands. Hudson Technologies was founded by Stephen P. Mandracchia and Kevin J. Zugibe on January 11, 1991 and is headquartered in Pearl River, New York.
Learn more about HDSN: