Hudson Technologies (NASDAQ:HDSN) Stock Passes Below Two Hundred Day Moving Average of $11.53

Hudson Technologies, Inc. (NASDAQ:HDSN)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.53 and traded as low as $8.65. Hudson Technologies shares last traded at $8.79, with a volume of 724,371 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have commented on HDSN. Canaccord Genuity Group lowered Hudson Technologies from a “buy” rating to a “hold” rating and cut their price objective for the company from $15.00 to $10.00 in a research report on Thursday, May 2nd. Canaccord Genuity Group reissued a “hold” rating and issued a $10.00 price objective (down from $15.00) on shares of Hudson Technologies in a research report on Thursday, May 2nd. Craig Hallum lowered their target price on Hudson Technologies from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. B. Riley lowered their target price on Hudson Technologies from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, March 7th. Finally, Roth Mkm lowered their target price on Hudson Technologies from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Hudson Technologies has an average rating of “Moderate Buy” and a consensus target price of $12.40.

Hudson Technologies Stock Up 1.5 %

The firm has a 50 day moving average price of $9.38 and a two-hundred day moving average price of $11.52. The company has a market capitalization of $400.03 million, a price-to-earnings ratio of 8.97, a P/E/G ratio of 0.40 and a beta of 1.06.

Hudson Technologies (NASDAQ:HDSN) last posted its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $65.25 million during the quarter, compared to the consensus estimate of $63.04 million. Hudson Technologies had a return on equity of 21.59% and a net margin of 16.70%. During the same period last year, the firm earned $0.33 earnings per share. Analysts predict that Hudson Technologies, Inc. will post 0.74 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Vincent P. Abbatecola sold 10,000 shares of Hudson Technologies stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $9.20, for a total value of $92,000.00. Following the completion of the transaction, the director now directly owns 159,341 shares in the company, valued at $1,465,937.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On Hudson Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Hudson Technologies by 1.7% in the first quarter. Vanguard Group Inc. now owns 2,280,462 shares of the industrial products company’s stock valued at $25,108,000 after acquiring an additional 37,158 shares during the period. Dimensional Fund Advisors LP boosted its stake in Hudson Technologies by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,574,769 shares of the industrial products company’s stock valued at $21,243,000 after acquiring an additional 30,217 shares during the period. Sixth Street Partners Management Company L.P. boosted its stake in Hudson Technologies by 53.1% in the third quarter. Sixth Street Partners Management Company L.P. now owns 995,000 shares of the industrial products company’s stock valued at $13,234,000 after acquiring an additional 345,000 shares during the period. Foundry Partners LLC boosted its stake in Hudson Technologies by 81.0% in the first quarter. Foundry Partners LLC now owns 676,098 shares of the industrial products company’s stock valued at $7,444,000 after acquiring an additional 302,529 shares during the period. Finally, RK Capital Management LLC boosted its stake in Hudson Technologies by 3.8% in the fourth quarter. RK Capital Management LLC now owns 498,300 shares of the industrial products company’s stock valued at $6,722,000 after acquiring an additional 18,400 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Hudson Technologies Company Profile

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.