Hudson Technologies shares are trading lower after the company reported Q1 financial results. Also, Canaccord Genuity downgraded the stock from Buy to Hold and lowered its price target from $15 to $10.
Portfolio Pulse from Benzinga Newsdesk
Hudson Technologies' stock trades lower following Q1 financial results and a downgrade by Canaccord Genuity from Buy to Hold, with a price target reduction from $15 to $10.
May 02, 2024 | 4:57 pm
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Hudson Technologies' shares dropped after reporting Q1 results and receiving a downgrade from Canaccord Genuity, which also lowered its price target for the stock.
The negative impact on Hudson Technologies' stock price is directly related to the reported Q1 financial results and the downgrade by Canaccord Genuity. Such analyst actions, especially downgrades and price target adjustments, typically influence investor perception and can lead to immediate stock price movements. The reduction in price target from $15 to $10 signifies a significant adjustment in expected stock value, likely contributing to the stock's decline.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100