Hudson Technologies (NASDAQ:HDSN) Shares Cross Below 200-Day Moving Average – Here’s Why

Hudson Technologies, Inc. (NASDAQ:HDSN)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.39 and traded as low as $7.29. Hudson Technologies shares last traded at $7.40, with a volume of 161,700 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently issued reports on HDSN shares. Wall Street Zen upgraded Hudson Technologies from a “hold” rating to a “buy” rating in a research report on Sunday, November 16th. Craig Hallum cut Hudson Technologies from a “buy” rating to a “hold” rating and set a $9.00 target price on the stock. in a research note on Thursday, November 6th. Weiss Ratings lowered shares of Hudson Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, January 27th. Finally, Canaccord Genuity Group cut their price objective on shares of Hudson Technologies from $10.50 to $10.00 and set a “buy” rating on the stock in a research report on Monday, November 10th. Two 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’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $9.33.

Hudson Technologies Stock Performance

The stock has a market cap of $318.22 million, a price-to-earnings ratio of 14.80 and a beta of 0.91. The company’s 50 day simple moving average is $7.22 and its 200 day simple moving average is $8.39.

Institutional Trading of Hudson Technologies

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