Hudson Technologies (HDSN) Gains As Market Dips: What You Should Know
In the latest trading session, Hudson Technologies (HDSN) closed at $10.21, marking a +1.49% move from the previous day. This move outpaced the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq gained 1.58%.
Prior to today's trading, shares of the refrigerant services company had gained 1.72% over the past month. This has lagged the Industrial Products sector's gain of 2.06% and outpaced the S&P 500's gain of 0.84% in that time.
Hudson Technologies will be looking to display strength as it nears its next earnings release. In that report, analysts expect Hudson Technologies to post earnings of $0.06 per share. This would mark a year-over-year decline of 53.85%. Meanwhile, our latest consensus estimate is calling for revenue of $34 million, down 10.01% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Hudson Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Hudson Technologies is currently a Zacks Rank #3 (Hold).
Digging into valuation, Hudson Technologies currently has a Forward P/E ratio of 6.66. For comparison, its industry has an average Forward P/E of 13.89, which means Hudson Technologies is trading at a discount to the group.
We can also see that HDSN currently has a PEG ratio of 0.22. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Industrial Services industry currently had an average PEG ratio of 0.86 as of yesterday's close.
The Industrial Services industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow HDSN in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Hudson Technologies, Inc. (HDSN) : Free Stock Analysis Report
