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WOODCLIFF LAKE, N.J. - Hudson Technologies, Inc. (NASDAQ:HDSN) announced Monday that Chairman and Chief Executive Officer Brian Coleman has stepped down effective immediately. The company has appointed CFO Brian Bertaux as interim CEO while it finalizes the selection of a permanent replacement.
Coleman joined Hudson Technologies as CFO in 1997 and had served as CEO since June 2020, following the passing of the company's founder. During his tenure, he helped strengthen the company's market position and improve its financial standing. InvestingPro data shows the company holds more cash than debt on its balance sheet, with a remarkably low debt-to-equity ratio of just 0.02 and a healthy current ratio of 3.88.
Vincent Abbatecola, Lead Independent Director, stated that the board is "in late-stage evaluation and conversation with CEO candidates" and expects to announce a permanent appointment soon.
The refrigerant products and services provider also released preliminary third quarter 2025 financial results, reporting expected revenue growth of 20% to $74.0 million compared to $61.9 million in the same period last year. The company anticipates net income growth of 59% to $12.4 million, or $0.27 per diluted share, compared to $7.8 million or $0.17 per diluted share in the third quarter of 2024. According to InvestingPro, Hudson Technologies is currently trading slightly below its Fair Value, with a strong free cash flow yield of 17%. The stock has gained over 62% year-to-date and 35% in the last six months.
Hudson Technologies, which describes itself as one of the nation's largest refrigerant reclaimers, plans to release its complete financial results on Wednesday, November 5, after market close. With a market capitalization of approximately $395 million and an overall financial health score rated as "GOOD" by InvestingPro, investors can access a comprehensive Pro Research Report on Hudson Technologies along with 1,400+ other US equities through the platform.
The company provides sustainable refrigerant products and services to the HVACR (Heating, Ventilation, Air Conditioning, and Refrigeration) industry, with operations including refrigerant sales, reclamation services, and system decontamination.
This information is based on a press release statement issued by the company.
In other recent news, Hudson Technologies has secured a significant contract renewal with the United States Defense Logistics Agency, valued at approximately $210 million for a five-year period. This contract allows Hudson Technologies to continue as the prime contractor for managing and supplying refrigerants and related items to U.S. Military Commands and Federal agencies. Canaccord Genuity has maintained its Buy rating on Hudson Technologies, with a price target of $10.50, citing the potential for the contract to generate up to $42 million in average annual revenue over its duration. In another development, Hudson Acquisition I Corp. announced that its shareholders approved an extension for completing a business combination, now allowing up to nine one-month extensions through July 2026. This amendment also removes the requirement for monthly deposits into the company's trust account during the extension period. Meanwhile, HIVE Digital Technologies reported a notable 138% year-over-year increase in Bitcoin production for September, mining 267 Bitcoin during the month. The company's daily production averaged 9 Bitcoin per day, marking an 8% increase from the previous month.
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