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

Hudson Technologies, Inc. (NASDAQ:HDSN)’s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.28 and traded as low as $6.19. Hudson Technologies shares last traded at $6.31, with a volume of 410,712 shares.

Analyst Upgrades and Downgrades

HDSN has been the topic of several recent analyst reports. Canaccord Genuity Group lowered their price objective on shares of Hudson Technologies from $9.50 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Wall Street Zen lowered shares of Hudson Technologies from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Weiss Ratings downgraded shares of Hudson Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $8.88.

Hudson Technologies Stock Performance

The firm has a market capitalization of $259.57 million, a PE ratio of 19.90 and a beta of 0.78. The business’s 50 day moving average is $5.58 and its two-hundred day moving average is $6.28.

Hudson Technologies (NASDAQ:HDSN) last issued its earnings results on Wednesday, May 6th. The industrial products company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.04). Hudson Technologies had a return on equity of 6.98% and a net margin of 5.66%.The company had revenue of $60.15 million during the quarter, compared to the consensus estimate of $57.15 million. As a group, equities research analysts predict that Hudson Technologies, Inc. will post 0.34 EPS for the current year.

Insider Transactions at Hudson Technologies

In related news, Director Jeffrey R. Feeler purchased 5,100 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were acquired at an average cost of $4.92 per share, with a total value of $25,092.00. Following the purchase, the director directly owned 9,165 shares of the company’s stock, valued at approximately $45,091.80. This trade represents a 125.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alan Sheriff purchased 5,200 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were purchased at an average cost of $4.88 per share, with a total value of $25,376.00. Following the transaction, the director directly owned 9,265 shares in the company, valued at $45,213.20. This trade represents a 127.92% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 802,286 shares of company stock worth $4,669,439. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Hudson Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue purchased a new position in shares of Hudson Technologies in the fourth quarter worth $28,000. Quarry LP increased its holdings in Hudson Technologies by 51.9% in the 3rd quarter. Quarry LP now owns 5,281 shares of the industrial products company’s stock worth $52,000 after buying an additional 1,805 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in Hudson Technologies in the 4th quarter worth about $62,000. Tower Research Capital LLC TRC raised its position in Hudson Technologies by 177.6% in the 2nd 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 during the last quarter. Finally, BNP Paribas Financial Markets raised its position in Hudson Technologies by 88.3% in the 3rd 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 during 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.