Hudson Technologies (NASDAQ:HDSN) Stock Price Passes Below Two Hundred Day Moving Average – Time to Sell?

Shares of 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 $6.48 and traded as low as $5.59. Hudson Technologies shares last traded at $5.59, with a volume of 451,249 shares trading hands.

Analysts Set New Price Targets

A number of analysts have commented on HDSN shares. Canaccord Genuity Group decreased their price target on shares of Hudson Technologies from $9.50 to $9.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Weiss Ratings lowered shares of Hudson Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, May 28th. Wall Street Zen lowered shares of Hudson Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. B. Riley Financial reduced their target price on shares of Hudson Technologies from $10.50 to $9.50 and set a “buy” rating for the company in a research note on Thursday, March 5th. Finally, Roth Mkm reduced their target price on shares of Hudson Technologies from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, March 6th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $8.88.

Hudson Technologies Stock Performance

The stock has a market cap of $235.17 million, a P/E ratio of 18.03 and a beta of 0.81. The company’s 50 day moving average price is $5.66 and its 200-day moving average price is $6.48.

Hudson Technologies (NASDAQ:HDSN) last posted its quarterly earnings results on Wednesday, May 6th. The industrial products company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). The company had revenue of $60.15 million for the quarter, compared to the consensus estimate of $57.15 million. Hudson Technologies had a net margin of 5.66% and a return on equity of 6.98%. On average, analysts forecast that Hudson Technologies, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jeffrey R. Feeler purchased 5,100 shares of Hudson Technologies stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of $4.92 per share, for a total transaction of $25,092.00. Following the completion of the transaction, the director owned 9,165 shares in the company, valued at $45,091.80. This represents a 125.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Alan Sheriff purchased 5,200 shares of Hudson Technologies stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average price of $4.88 per share, with a total value of $25,376.00. Following the transaction, the director owned 9,265 shares of the company’s stock, valued at $45,213.20. This trade represents a 127.92% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 32,850 shares of company stock valued at $161,120. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hudson Technologies

Institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue bought a new position in Hudson Technologies during the fourth quarter valued at about $28,000. Nkcfo LLC purchased a new stake in Hudson Technologies during the third quarter valued at about $47,000. Quarry LP lifted its holdings 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. BNP Paribas Financial Markets lifted 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 valued at $75,000 after purchasing an additional 3,532 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted 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 valued at $71,000 after purchasing an additional 5,576 shares during the last quarter. 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.