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

Hudson Technologies, Inc. (NASDAQ:HDSN) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred 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 traded.

Wall Street Analyst Weigh In

Several brokerages recently commented on HDSN. Roth Mkm reduced their target price on shares of Hudson Technologies from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Canaccord Genuity Group cut shares of Hudson Technologies from a “buy” rating to a “hold” rating and reduced their target price for the stock from $15.00 to $10.00 in a report on Thursday, May 2nd. Canaccord Genuity Group restated a “hold” rating and set a $10.00 target price (down previously from $15.00) on shares of Hudson Technologies in a report on Thursday, May 2nd. B. Riley reduced their target price on shares of Hudson Technologies from $17.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, March 7th. Finally, Craig Hallum reduced their target price on shares of Hudson Technologies from $16.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.40.

Hudson Technologies Price Performance

The company’s 50-day simple moving average is $9.38 and its 200-day simple moving average is $11.52. The stock has a market capitalization of $400.03 million, a P/E ratio of 8.97, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. The firm had revenue of $65.25 million for the quarter, compared to analyst estimates of $63.04 million. Hudson Technologies had a net margin of 16.70% and a return on equity of 21.59%. During the same period in the prior year, the firm posted $0.33 earnings per share. On average, analysts forecast that Hudson Technologies, Inc. will post 0.74 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Hudson Technologies

Large investors have recently modified their holdings of the stock. Zazove Associates LLC bought a new position in Hudson Technologies during the first quarter worth about $1,376,000. Boston Partners bought a new position in Hudson Technologies during the first quarter worth about $339,000. Swedbank AB bought a new position in Hudson Technologies during the first quarter worth about $1,652,000. Virtu Financial LLC bought a new position in Hudson Technologies during the first quarter worth about $114,000. Finally, Lazard Asset Management LLC bought a new position in Hudson Technologies during the first quarter worth about $4,549,000. 71.34% of the stock is owned by institutional investors.

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.