Hudson Technologies (NASDAQ:HDSN) Share Price Crosses 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 $6.87 and traded as low as $4.79. Hudson Technologies shares last traded at $4.92, with a volume of 640,185 shares changing hands.

Wall Street Analysts Forecast Growth

HDSN has been the subject of a number of research reports. Roth Mkm reduced their price target on shares of Hudson Technologies from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, March 6th. Weiss Ratings raised shares of Hudson Technologies from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday. Canaccord Genuity Group reduced their price target on shares of Hudson Technologies from $9.50 to $9.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Wall Street Zen downgraded shares of Hudson Technologies from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Finally, B. Riley Financial reduced their price target on shares of Hudson Technologies from $10.50 to $9.50 and set a “buy” rating for the company in a report on Thursday, March 5th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $8.88.

Hudson Technologies Trading Up 1.7%

The business’s fifty day moving average price is $5.93 and its 200 day moving average price is $6.83. The company has a market capitalization of $206.98 million, a P/E ratio of 15.87 and a beta of 0.87.

Hudson Technologies (NASDAQ:HDSN) last released its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The business had revenue of $60.15 million for the quarter, compared to the consensus estimate of $57.15 million. Hudson Technologies had a return on equity of 6.98% and a net margin of 5.66%. Equities research analysts anticipate that Hudson Technologies, Inc. will post 0.37 EPS for the current year.

Insider Transactions at Hudson Technologies

In other Hudson Technologies news, Director Jeffrey R. Feeler acquired 5,100 shares of Hudson Technologies stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $4.92 per share, with a total value of $25,092.00. Following the acquisition, the director owned 9,165 shares of the company’s stock, valued at approximately $45,091.80. The trade was a 125.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan Sheriff acquired 5,200 shares of Hudson Technologies stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average cost of $4.88 per share, with a total value of $25,376.00. Following the completion of the acquisition, the director directly owned 9,265 shares in the company, valued at $45,213.20. This trade represents a 127.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 30,850 shares of company stock valued at $151,380 over the last ninety days. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Hudson Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Trust Advisors LP lifted its holdings in shares of Hudson Technologies by 2.2% during the 1st quarter. First Trust Advisors LP now owns 145,083 shares of the industrial products company’s stock worth $853,000 after acquiring an additional 3,105 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Hudson Technologies by 5.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,148,311 shares of the industrial products company’s stock worth $12,631,000 after purchasing an additional 105,160 shares in the last quarter. Fifth Third Bancorp acquired a new stake in shares of Hudson Technologies during the 1st quarter worth about $179,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Hudson Technologies during the 1st quarter worth about $82,000. Finally, Inspire Investing LLC increased its position in shares of Hudson Technologies by 28.4% during the 1st quarter. Inspire Investing LLC now owns 88,086 shares of the industrial products company’s stock worth $518,000 after purchasing an additional 19,503 shares in the last quarter. 71.34% of the stock is owned by institutional investors.

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.