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

by · The Markets Daily

Hudson Technologies, Inc. (NASDAQ:HDSN – Get Free Report)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.57 and traded as low as $7.24. Hudson Technologies shares last traded at $7.32, with a volume of 397,825 shares changing hands.

Wall Street Analyst Weigh In

HDSN has been the topic of a number of analyst reports. Wall Street Zen raised Hudson Technologies from a “hold” rating to a “buy” rating in a research report on Sunday, November 16th. Weiss Ratings restated a “hold (c)” rating on shares of Hudson Technologies in a research note on Wednesday, October 8th. Canaccord Genuity Group dropped their price objective on Hudson Technologies from $10.50 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 10th. Zacks Research cut Hudson Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Craig Hallum downgraded shares of Hudson Technologies from a “buy” rating to a “hold” rating and set a $9.00 price target for the company. in a research report on Thursday, November 6th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Hudson Technologies currently has an average rating of “Hold” and an average target price of $9.33.

Get Our Latest Analysis on Hudson Technologies

Hudson Technologies Stock Performance

The company has a market cap of $303.17 million, a P/E ratio of 14.10 and a beta of 0.80. The business has a fifty day simple moving average of $7.78 and a 200 day simple moving average of $8.57.

Hudson Technologies (NASDAQ:HDSN – Get Free Report) last issued 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. Hudson Technologies had a return on equity of 8.97% and a net margin of 9.60%.The business had revenue of $74.01 million during the quarter, compared to the consensus estimate of $72.15 million. Equities research analysts expect that Hudson Technologies, Inc. will post 0.55 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HDSN. Public Employees Retirement System of Ohio lifted its holdings in shares of 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 purchasing an additional 7,690 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Hudson Technologies by 102.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,111,803 shares of the industrial products company’s stock worth $9,028,000 after buying an additional 563,899 shares during the last quarter. Oaktree Capital Management LP acquired a new stake in Hudson Technologies in the second quarter worth $4,569,000. Goldman Sachs Group Inc. lifted its stake in 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 buying an additional 80,973 shares during the last quarter. Finally, Hartree Partners LP bought a new stake in Hudson Technologies in the first quarter valued at $22,046,000. 71.34% of the stock is currently owned by institutional investors.

Hudson Technologies Company Profile

(Get Free Report)

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.

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