Wolves took a 21st minute lead at Clayton Wood through Dan Armstrong before Belgium forward Julien N'Goy quickly equalised for the hosts.
Both sides failed to create too many clear cut chances thereafter, leaving Hodges frustrated with his side's failure to win the game, although pointing out the heavy schedule they have faced in the last week with games in league and cup.
"I'm a bit disappointed really because to be honest I expected to win the game ," the 53-year-old expressed.
"If you look at it though we've played three games in six days and it's been tough on the lads - they've played a lot of minutes recently and done well.
"We huffed and puffed throughout the game today but didn't quite have the quality to go and win it.
"On another day however, the chance which has fallen to Jack (Devlin) at the end would have gone and we'd have won what was as a scrappy game but it wasn't to be."
N'Goy's goal was his fourth consecutive strike Premier League 2 and although Hodges praised his finish, he has challenged the forward, who has been called up to the Belgian U21 squad, to push for more goals.
"Julien took his goal well and is scoring single goals," Hodges added. "He's got that bit of quality I'm talking which he has shown time and time again.
"He just needs to improve his hunger to score because I want him to see him net twos, threes and fours in games."
With the season entering its final few weeks and plenty of points and prizes still to play for meanwhile, Hodges revealed the targets he wants his side to hit.
"In league we are towards the bottom so we want to ensure we finish as high up the table as we possibly can."
"We also have a local derby with West Bromwich Albion on the horizon which we want to win as well as a cup final to look forward to next month.
"There are all sorts of things to play for so we'll keep going. We've had a good run since Christmas and we want to continue that over the remainder of the season."