Hudson Technologies (NASDAQ:HDSN) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Shares of Hudson Technologies, Inc. (NASDAQ:HDSN) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $8.53 and traded as low as $6.96. Hudson Technologies shares last traded at $7.04, with a volume of 202,055 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently weighed in on HDSN shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Hudson Technologies in a research report on Monday, December 29th. Wall Street Zen raised Hudson Technologies from a “hold” rating to a “buy” rating in a research note on Sunday, November 16th. Craig Hallum lowered Hudson Technologies from a “buy” rating to a “hold” rating and set a $9.00 price target on the stock. in a research note on Thursday, November 6th. Zacks Research cut Hudson Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Finally, Canaccord Genuity Group reduced their price objective on shares of Hudson Technologies from $10.50 to $10.00 and set a “buy” rating for the company in a research report on Monday, November 10th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.33.

Hudson Technologies Stock Performance

The business has a 50 day moving average of $7.20 and a two-hundred day moving average of $8.53. The firm has a market capitalization of $302.74 million, a price-to-earnings ratio of 14.08 and a beta of 0.86.

Hudson Technologies (NASDAQ:HDSN) last released its quarterly earnings data on Wednesday, November 5th. The industrial products company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.21 by $0.06. Hudson Technologies had a return on equity of 8.97% and a net margin of 9.60%.The firm had revenue of $74.01 million during the quarter, compared to the consensus estimate of $72.15 million. On average, equities analysts predict that Hudson Technologies, Inc. will post 0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Nkcfo LLC bought a new stake in shares of Hudson Technologies during the third quarter worth about $47,000. Quarry LP boosted its stake in Hudson Technologies by 51.9% during the 3rd quarter. Quarry LP now owns 5,281 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 1,805 shares during the last quarter. GAMMA Investing LLC increased its holdings in Hudson Technologies by 30.5% during the 2nd quarter. GAMMA Investing LLC now owns 6,487 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 1,517 shares in the last quarter. BNP Paribas Financial Markets raised 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 worth $75,000 after purchasing an additional 3,532 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted 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. 71.34% of the stock is owned by institutional investors.

About Hudson Technologies

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.