Should you sell your Hudson Technologies stock?

Roth Capital Markets analyst Gerry Sweeney maintained a “Neutral” rating and US$9.00 target price on Hudson Technologies (Hudson Technologies Stock Quote, Chart, News, Analysts, Financials NASDAQ:HDSN) after the company pre-announced stronger third-quarter results and announced a CEO change.

In a Nov. 4 earnings preview, Sweeney noted that HDSN will report Q3 2025 results after market close on Nov. 5, with a conference call scheduled for 5 p.m. ET. The company said CEO Brian Coleman has stepped down, with CFO Brian Bertaux assuming the interim role while the board finalizes a replacement.

“We anticipate the board looking for a candidate who has a track record of both organic and inorganic growth,” Sweeney said, adding that a shift toward a greater services component could help reduce the company’s exposure to volatility in refrigerant gas prices.

Hudson, based in Pearl River, N.Y., is the largest refrigerant reclaimer in the U.S., selling refrigerants and providing reclamation and maintenance services to commercial customers and contractors.

Alongside the leadership update, Hudson pre-announced positive third-quarter results, including revenue of US$74.0-million (vs. Roth’s estimate of US$75.0-million), gross margin of 32.0% (vs. 31.0% expected), and net income of US$12.4-million, or US$0.27 per share, ahead of Roth’s US$0.22 forecast.

Sweeney said recent channel checks pointed to strong Q3 demand but falling prices for key refrigerants such as R-410A, which he believes could “negatively impact 2026 estimates.”

While pricing remained elevated through much of the quarter, he cautioned that supply and a temporary lift in demand from HFO rollout challenges may not repeat.

“There remains enough R-410A available that prices achieved in the summer of 2025 will not repeat in 2026,” he said, noting his model now assumes US$7.00 per pound vs. the prior US$8.00–US$9.00 range.

Hudson exited Q2 2025 with US$84.3-million in cash and no debt, and total liquidity of US$143.3-million. Year-to-date, the company has repurchased approximately US$4.5-million of stock under its US$10-million 2025 buyback authorization.

Sweeney said Hudson should generate US$35.2-million in Adjusted EBITDA on US$241.2-million of revenue in fiscal 2025, moderating to US$34.4-million on US$234.5-million in 2026 as pricing normalizes.

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