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Strength Seen in Hudson Tech (HDSN): Can Its 5% Jump Turn into More Strength?
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Hudson Technologies (HDSN - Free Report) shares rallied 5% in the last trading session to close at $7.94. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 24.9% loss over the past four weeks.
The industry has been witnessing continued strength in the average selling prices of certain refrigerants. This is being fueled by heightened demand while supply remains limited for these refrigerants. Backed by this, Hudson Technologies reported a 100% surge in its revenues to $188.3 million in the first half of 2022 compared to the comparable period last year. The company is also seeing consistent momentum as the selling season progresses. The combination of higher selling prices without a material appreciation in the cost of certain refrigerants is benefitting its margin performance as well.
This refrigerant services company is expected to post quarterly earnings of $0.29 per share in its upcoming report, which represents a year-over-year change of -14.7%. Revenues are expected to be $78 million, up 28.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Hudson Tech, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on HDSN going forward to see if this recent jump can turn into more strength down the road.
Hudson Tech is part of the Zacks Industrial Services industry. LegalZoom (LZ - Free Report) , another stock in the same industry, closed the last trading session 4.3% lower at $9.79. LZ has returned -11.5% in the past month.
For LegalZoom, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.05. This represents a change of +400% from what the company reported a year ago. LegalZoom currently has a Zacks Rank of #2 (Buy).
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Strength Seen in Hudson Tech (HDSN): Can Its 5% Jump Turn into More Strength?
Hudson Technologies (HDSN - Free Report) shares rallied 5% in the last trading session to close at $7.94. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 24.9% loss over the past four weeks.
The industry has been witnessing continued strength in the average selling prices of certain refrigerants. This is being fueled by heightened demand while supply remains limited for these refrigerants. Backed by this, Hudson Technologies reported a 100% surge in its revenues to $188.3 million in the first half of 2022 compared to the comparable period last year. The company is also seeing consistent momentum as the selling season progresses. The combination of higher selling prices without a material appreciation in the cost of certain refrigerants is benefitting its margin performance as well.
This refrigerant services company is expected to post quarterly earnings of $0.29 per share in its upcoming report, which represents a year-over-year change of -14.7%. Revenues are expected to be $78 million, up 28.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Hudson Tech, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on HDSN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Hudson Tech is part of the Zacks Industrial Services industry. LegalZoom (LZ - Free Report) , another stock in the same industry, closed the last trading session 4.3% lower at $9.79. LZ has returned -11.5% in the past month.
For LegalZoom, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.05. This represents a change of +400% from what the company reported a year ago. LegalZoom currently has a Zacks Rank of #2 (Buy).