Hudson Technologies (NASDAQ:HDSN) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Hudson Technologies, Inc. (NASDAQ:HDSN) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.87 and traded as low as $4.79. Hudson Technologies shares last traded at $4.92, with a volume of 640,185 shares.

Analyst Upgrades and Downgrades

HDSN has been the subject of several recent analyst reports. Roth Mkm cut their price objective on shares of Hudson Technologies from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, March 6th. Wall Street Zen cut shares of Hudson Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Canaccord Genuity Group cut their price target on shares of Hudson Technologies from $9.50 to $9.00 and set a “buy” rating for the company in a report on Thursday, May 7th. B. Riley Financial decreased their price objective on Hudson Technologies from $10.50 to $9.50 and set a “buy” rating on the stock in a report on Thursday, March 5th. Finally, Weiss Ratings lowered Hudson Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.88.

Hudson Technologies Stock Performance

The business’s 50 day moving average price is $6.02 and its 200-day moving average price is $6.87. The firm has a market capitalization of $206.98 million, a PE ratio of 15.87 and a beta of 0.87.

Hudson Technologies (NASDAQ:HDSN) last posted its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The company had revenue of $60.15 million for the quarter, compared to analysts’ expectations of $57.15 million. Hudson Technologies had a return on equity of 6.98% and a net margin of 5.66%. As a group, analysts anticipate that Hudson Technologies, Inc. will post 0.37 earnings per share for the current year.

Institutional Investors Weigh In On Hudson Technologies

Several institutional investors and hedge funds have recently modified their holdings of HDSN. State of Alaska Department of Revenue acquired a new position in Hudson Technologies during the 4th quarter worth about $28,000. Nkcfo LLC acquired a new stake in shares of Hudson Technologies during the third quarter worth about $47,000. Quarry LP lifted its position in shares of Hudson Technologies by 51.9% during the third quarter. Quarry LP now owns 5,281 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 1,805 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Hudson Technologies by 88.3% in the third quarter. BNP Paribas Financial Markets now owns 7,530 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 3,532 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Hudson Technologies by 177.6% in the second quarter. Tower Research Capital LLC TRC now owns 8,715 shares of the industrial products company’s stock valued at $71,000 after purchasing an additional 5,576 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Hudson Technologies Company Profile

Hudson Technologies, Inc is a U.S.-based provider of refrigerant management and sustainability solutions, specializing in the recovery, reclamation and recycling of refrigerant gases. The company’s core business centers on collecting used refrigerants—such as CFCs, HCFCs and HFCs—from industrial, commercial and institutional customers, processing them in certified reclamation facilities and returning material that meets industry purity standards.

Headquartered in Purchase, New York, Hudson Technologies operates a network of reclamation centers across the continental United States.