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

Hudson Technologies, Inc. (NASDAQ:HDSN)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-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 traded.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Craig Hallum downgraded shares of Hudson Technologies from a “buy” rating to a “hold” rating and set a $9.00 price objective on the stock. in a report on Thursday, November 6th. Canaccord Genuity Group cut their price target on shares of Hudson Technologies from $10.50 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hudson Technologies in a research report on Monday, December 29th. Wall Street Zen raised shares of Hudson Technologies from a “hold” rating to a “buy” rating in a research report on Sunday, November 16th. Finally, Zacks Research downgraded Hudson Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9.33.

Hudson Technologies Stock Up 0.9%

The firm has a market cap of $302.74 million, a P/E ratio of 14.08 and a beta of 0.86. The firm’s 50-day simple moving average is $7.20 and its 200 day simple moving average is $8.53.

Hudson Technologies (NASDAQ:HDSN) last released its 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. 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 forecast that Hudson Technologies, Inc. will post 0.55 earnings per share for the current year.

Institutional Trading of Hudson Technologies

Several hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its holdings in Hudson Technologies by 1.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 410,099 shares of the industrial products company’s stock worth $3,330,000 after buying an additional 7,690 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Hudson Technologies by 102.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,111,803 shares of the industrial products company’s stock worth $9,028,000 after acquiring an additional 563,899 shares in the last quarter. Oaktree Capital Management LP bought a new position in shares of Hudson Technologies in the second quarter worth $4,569,000. Goldman Sachs Group Inc. grew its position in shares of Hudson Technologies by 49.1% in the first quarter. Goldman Sachs Group Inc. now owns 245,760 shares of the industrial products company’s stock valued at $1,516,000 after purchasing an additional 80,973 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake 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 during the period. 71.34% of the stock is currently 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.