Hudson Technologies (NASDAQ:HDSN) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Hudson Technologies, Inc. (NASDAQ:HDSN) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.42 and traded as low as $7.11. Hudson Technologies shares last traded at $7.38, with a volume of 219,096 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group decreased 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. Wall Street Zen upgraded Hudson Technologies from a “hold” rating to a “buy” rating in a research note on Sunday, November 16th. Weiss Ratings cut Hudson Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, January 27th. Finally, Craig Hallum lowered Hudson Technologies from a “buy” rating to a “hold” rating and set a $9.00 target price on the stock. in a research report on Thursday, November 6th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9.33.

Hudson Technologies Stock Up 2.9%

The company’s fifty day moving average price is $7.17 and its two-hundred day moving average price is $8.42. The firm has a market cap of $317.34 million, a PE ratio of 14.76 and a beta of 0.91.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Strs Ohio boosted its position in shares of Hudson Technologies by 29.4% during the 4th quarter. Strs Ohio now owns 77,100 shares of the industrial products company’s stock worth $528,000 after purchasing an additional 17,500 shares in the last quarter. KBC Group NV acquired a new position in Hudson Technologies during the fourth quarter worth about $843,000. State of Alaska Department of Revenue acquired a new position in Hudson Technologies during the fourth quarter worth about $28,000. Prime Capital Investment Advisors LLC purchased a new position in Hudson Technologies in the fourth quarter valued at about $81,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of Hudson Technologies by 26.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 35,366 shares of the industrial products company’s stock valued at $242,000 after acquiring an additional 7,376 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

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.