Hudson Technologies (NASDAQ:HDSN) Shares Pass Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Hudson Technologies shares fell below their 200-day moving average during Thursday trading, dipping to as low as $6.19 before last trading at $6.31. The stock’s 200-day moving average is $6.28.
• Analyst sentiment on HDSN is mixed: recent downgrades from Wall Street Zen and Weiss Ratings offset a buy rating from Canaccord Genuity, and MarketBeat data shows an overall Hold rating with an average price target of $8.88.
• The company recently reported earnings of $0.01 per share, missing estimates, though revenue came in above expectations at $60.15 million. Insider buying has been notable, including purchases by a director and major shareholder Hartree Partners.

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 $6.28 and traded as low as $6.19. Hudson Technologies shares last traded at $6.31, with a volume of 410,712 shares trading hands.

Wall Street Analysts Forecast Growth

HDSN has been the topic of several analyst reports. Wall Street Zen lowered Hudson Technologies from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Weiss Ratings lowered shares of Hudson Technologies from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, May 28th. Finally, Canaccord Genuity Group cut their price objective on shares of Hudson Technologies from $9.50 to $9.00 and set a "buy" rating for the company in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $8.88.

Hudson Technologies Stock Performance

The stock has a market cap of $265.46 million, a PE ratio of 20.35 and a beta of 0.78. The company's 50-day moving average price is $5.57 and its 200 day moving average price is $6.28.

Hudson Technologies (NASDAQ:HDSN - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). The business had revenue of $60.15 million during the quarter, compared to analysts' expectations of $57.15 million. Hudson Technologies had a return on equity of 6.98% and a net margin of 5.66%. As a group, equities research analysts predict that Hudson Technologies, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jeffrey R. Feeler acquired 5,100 shares of Hudson Technologies stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average cost of $4.92 per share, for a total transaction of $25,092.00. Following the acquisition, the director owned 9,165 shares in the company, valued at approximately $45,091.80. This represents a 125.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Hartree Partners, Lp acquired 288,111 shares of Hudson Technologies stock in a transaction that occurred on Wednesday, July 1st. The stock was bought at an average price of $5.88 per share, for a total transaction of $1,694,092.68. Following the completion of the acquisition, the insider owned 4,700,000 shares in the company, valued at $27,636,000. This trade represents a 6.53% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 802,286 shares of company stock valued at $4,669,439 in the last quarter. Insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Segall Bryant & Hamill LLC raised its stake in shares of Hudson Technologies by 248.4% in the 1st quarter. Segall Bryant & Hamill LLC now owns 628,341 shares of the industrial products company's stock valued at $3,695,000 after acquiring an additional 447,987 shares during the period. Bank of America Corp DE boosted its position in shares of Hudson Technologies by 22.7% during the 1st quarter. Bank of America Corp DE now owns 102,335 shares of the industrial products company's stock worth $602,000 after purchasing an additional 18,931 shares during the period. Empowered Funds LLC increased its holdings in Hudson Technologies by 10.3% in the 1st quarter. Empowered Funds LLC now owns 194,555 shares of the industrial products company's stock valued at $1,144,000 after purchasing an additional 18,142 shares during the last quarter. First Trust Advisors LP increased its holdings in Hudson Technologies by 2.2% in the 1st quarter. First Trust Advisors LP now owns 145,083 shares of the industrial products company's stock valued at $853,000 after purchasing an additional 3,105 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Hudson Technologies by 5.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,148,311 shares of the industrial products company's stock valued at $12,631,000 after purchasing an additional 105,160 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Hudson Technologies Company Profile

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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