Hudson Technologies (NASDAQ:HDSN) Stock Passes Below 200 Day Moving Average of $11.76

Hudson Technologies, Inc. (NASDAQ:HDSN)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.76 and traded as low as $8.93. Hudson Technologies shares last traded at $9.09, with a volume of 210,965 shares trading hands.

Analysts Set New Price Targets

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

Hudson Technologies Price Performance

The company’s fifty day simple moving average is $9.67 and its 200-day simple moving average is $11.76. The firm has a market capitalization of $413.69 million, a PE ratio of 9.28, a price-to-earnings-growth ratio of 0.41 and a beta of 1.06.

Hudson Technologies (NASDAQ:HDSN) last released 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. Hudson Technologies had a net margin of 16.70% and a return on equity of 21.59%. The business had revenue of $65.25 million for the quarter, compared to analyst estimates of $63.04 million. During the same period in the previous year, the company earned $0.33 earnings per share. As a group, equities research analysts anticipate that Hudson Technologies, Inc. will post 0.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hudson Technologies

Large investors have recently made changes to their positions in the stock. Navellier & Associates Inc. grew its holdings in shares of Hudson Technologies by 59.0% during the fourth quarter. Navellier & Associates Inc. now owns 114,099 shares of the industrial products company’s stock valued at $1,539,000 after buying an additional 42,330 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Hudson Technologies by 364.8% during the fourth quarter. Victory Capital Management Inc. now owns 48,314 shares of the industrial products company’s stock valued at $652,000 after buying an additional 37,919 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Hudson Technologies during the third quarter valued at $172,000. Pacific Ridge Capital Partners LLC grew its holdings in shares of Hudson Technologies by 117.9% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 63,130 shares of the industrial products company’s stock valued at $852,000 after buying an additional 34,164 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Hudson Technologies during the fourth quarter valued at $163,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

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.