Hudson Technologies (NASDAQ:HDSN) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Hudson Technologies, Inc. (NASDAQ:HDSN)’s stock price passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $5.63 and traded as low as $5.01. Hudson Technologies shares last traded at $5.14, with a volume of 293,833 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Canaccord Genuity Group decreased their price target on shares of Hudson Technologies from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Weiss Ratings downgraded Hudson Technologies from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.62.

Hudson Technologies Stock Up 2.1%

The company has a market capitalization of $227.71 million, a PE ratio of 27.05 and a beta of 0.83. The firm’s 50 day simple moving average is $5.31 and its 200-day simple moving average is $5.63.

Hudson Technologies (NASDAQ:HDSN) last released its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.06). The company had revenue of $78.35 million for the quarter, compared to analyst estimates of $74.20 million. Hudson Technologies had a return on equity of 4.95% and a net margin of 3.51%. As a group, sell-side analysts anticipate that Hudson Technologies, Inc. will post 0.17 EPS for the current fiscal year.

Insider Transactions at Hudson Technologies

In related news, major shareholder Hartree Partners, Lp bought 118,549 shares of the business’s stock in a transaction on Thursday, September 24th. The shares were bought at an average cost of $5.10 per share, for a total transaction of $604,599.90. Following the completion of the purchase, the insider owned 5,348,517 shares of the company’s stock, valued at $27,277,436.70. This represents a 2.27% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders purchased 306,431 shares of company stock worth $1,651,495. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HDSN. SummerHaven Investment Management LLC acquired a new stake in shares of Hudson Technologies during the third quarter worth approximately $473,000. Squarepoint Ops LLC raised its holdings in Hudson Technologies by 154.5% during the second quarter. Squarepoint Ops LLC now owns 66,220 shares of the industrial products company’s stock valued at $380,000 after buying an additional 40,202 shares in the last quarter. Kerrisdale Advisers LLC lifted its holdings in Hudson Technologies by 420.6% in the 2nd quarter. Kerrisdale Advisers LLC now owns 299,976 shares of the industrial products company’s stock worth $1,722,000 after purchasing an additional 242,354 shares during the last quarter. Ancora Advisors LLC bought a new stake in shares of Hudson Technologies during the 2nd quarter worth $1,741,000. Finally, Empowered Funds LLC bought a new stake in Hudson Technologies during the second quarter valued at about $1,182,000. 71.34% of the stock is owned by institutional investors and hedge funds.

About Hudson Technologies

Hudson Technologies, Inc is an environmental services company focused on refrigerant management and the development of solutions that support the transition away from ozone-depleting and high-global-warming-potential refrigerants. The company serves commercial, industrial, and refrigeration markets, helping customers manage refrigerants throughout their life cycle.

Its principal activities include the reclamation, recycling, and sale of used and recovered refrigerants; the distribution of virgin and reclaimed refrigerant products; and refrigerant management services.