Is Hudson Technologies, Inc. (HDSN) Going to Burn These Hedge Funds?

As one would reasonably expect, key money managers have been driving this bullishness. McKinley Capital Management, led by Robert B. Gillam, established one of the most outsized position in Hudson Technologies, Inc. (NASDAQ:HDSN). McKinley Capital Management had $4.4 million invested in the company at the end of the quarter. The other funds with brand new HDSN positions are Warren Lammert’s Granite Point Capital, and Peter Muller’s PDT Partners.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Hudson Technologies, Inc. (NASDAQ:HDSN) but similarly valued. These stocks are Jones Energy Inc (NYSE:JONE), INVUITY INC COM USD0.001 (NASDAQ:IVTY), Alico, Inc. (NASDAQ:ALCO), and Nathan’s Famous, Inc. (NASDAQ:NATH). All of these stocks’ market caps match HDSN’s market cap.

As you can see these stocks had an average of 8.5 hedge funds with bullish positions and the average amount invested in these stocks was $34 million. That figure was $22 million in HDSN’s case. Jones Energy Inc (NYSE:JONE) is the most popular stock in this table. On the other hand Nathan’s Famous, Inc. (NASDAQ:NATH) is the least popular one with only 5 bullish hedge fund positions. Hudson Technologies, Inc. (NASDAQ:HDSN) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard JONE might be a better candidate to consider taking a long position in.