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

Hudson Technologies, Inc. (NASDAQ:HDSN)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.56 and traded as low as $6.92. Hudson Technologies shares last traded at $7.00, with a volume of 187,817 shares changing hands.

Wall Street Analyst Weigh In

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

Hudson Technologies Stock Up 0.6%

The stock has a market cap of $301 million, a P/E ratio of 14.00 and a beta of 0.80. The stock has a fifty day simple moving average of $7.58 and a 200-day simple moving average of $8.56.

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

Hedge Funds Weigh In On Hudson Technologies

Several institutional investors and hedge funds have recently made changes to their positions in HDSN. Nkcfo LLC acquired a new stake in Hudson Technologies during the 3rd quarter worth $47,000. Quarry LP raised 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 during the period. GAMMA Investing LLC lifted its holdings in shares of Hudson Technologies by 30.5% during the 2nd quarter. GAMMA Investing LLC now owns 6,487 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 1,517 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Hudson Technologies by 177.6% during the 2nd 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. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Hudson Technologies by 88.3% during the 3rd 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 in the last quarter. Institutional investors and hedge funds 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.