Hudson Technologies (NASDAQ:HDSN) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Hudson Technologies, Inc. (NASDAQ:HDSN) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.35 and traded as low as $5.66. Hudson Technologies shares last traded at $5.68, with a volume of 356,380 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have commented on HDSN. Roth Mkm downgraded shares of Hudson Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $12.00 to $7.00 in a research report on Tuesday, November 5th. Canaccord Genuity Group reduced their target price on Hudson Technologies from $8.75 to $8.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. B. Riley reiterated a “neutral” rating and set a $7.25 price target (down previously from $8.50) on shares of Hudson Technologies in a report on Tuesday, November 5th. Craig Hallum lowered shares of Hudson Technologies from a “buy” rating to a “hold” rating and dropped their price target for the company from $10.00 to $7.00 in a research report on Tuesday, November 5th. Finally, Roth Capital downgraded shares of Hudson Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 5th. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $7.85.

Hudson Technologies Price Performance

The company has a market capitalization of $272.55 million, a price-to-earnings ratio of 9.28, a price-to-earnings-growth ratio of 0.34 and a beta of 1.11. The business has a fifty day moving average price of $5.77 and a 200 day moving average price of $7.31.

Hudson Technologies (NASDAQ:HDSN) last released its earnings results on Monday, November 4th. The industrial products company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. The firm had revenue of $61.94 million during the quarter, compared to analysts’ expectations of $64.92 million. Hudson Technologies had a net margin of 12.49% and a return on equity of 12.74%. During the same period in the prior year, the company earned $0.34 EPS. As a group, sell-side analysts predict that Hudson Technologies, Inc. will post 0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hudson Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Hudson Technologies by 22.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,019,067 shares of the industrial products company’s stock valued at $17,747,000 after purchasing an additional 364,117 shares during the period. Sixth Street Partners Management Company L.P. boosted its stake in Hudson Technologies by 30.0% during the second quarter. Sixth Street Partners Management Company L.P. now owns 1,300,000 shares of the industrial products company’s stock worth $11,427,000 after buying an additional 300,000 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in Hudson Technologies during the fourth quarter worth $1,612,000. Cubist Systematic Strategies LLC bought a new stake in Hudson Technologies in the 2nd quarter valued at $1,537,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Hudson Technologies by 69.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 338,607 shares of the industrial products company’s stock worth $2,824,000 after acquiring an additional 139,042 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

About Hudson Technologies

Hudson Technologies, Inc, through its subsidiary, Hudson Technologies Company, engages in the provision of solutions to recurring problems within the refrigeration industry in the United States. The company engages in the sale of refrigerant and industrial gas; provision of refrigerant management services consisting primarily of reclamation of refrigerants, re-usable cylinder refurbishment, and hydrostatic testing services; and RefrigerantSide services comprising system decontamination and recovery to remove moisture, oils, and other contaminants.