Hudson Technologies (HDSN) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Hudson Technologies (HDSN) closed at $10.27, marking a +0.59% move from the previous day. This change outpaced the S&P 500's 0.53% gain on the day. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 5.2%.
Heading into today, shares of the refrigerant services company had gained 2.82% over the past month, outpacing the Industrial Products sector's gain of 2.32% and the S&P 500's gain of 0.67% in that time.
Investors will be hoping for strength from Hudson Technologies as it approaches its next earnings release. On that day, Hudson Technologies is projected to report earnings of $0.06 per share, which would represent a year-over-year decline of 53.85%. Our most recent consensus estimate is calling for quarterly revenue of $34 million, down 10.01% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Hudson Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Hudson Technologies is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Hudson Technologies is currently trading at a Forward P/E ratio of 6.76. This represents a discount compared to its industry's average Forward P/E of 13.81.
Investors should also note that HDSN has a PEG ratio of 0.23 right now. 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. HDSN's industry 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 group has a Zacks Industry Rank of 85, putting it in the top 34% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Hudson Technologies, Inc. (HDSN) : Free Stock Analysis Report
