Hydrogenics Corp. (HYGS) Raised to Hold at Zacks Investment Research
Hydrogenics Corp. (NASDAQ:HYGS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Hydrogenics Corporation develops proton exchange membrane fuel cell systems for commercialization, including related peripheral products and associated diagnostic and control equipment. Hydrogenics is recognized by key customers for its core competency in fuel cell operating systems while establishing a sustainable commercial business as a leading provider of systems for control and testing of proton exchange membrane fuel cells and stacks. Hydrogenics Corporation was founded in 1988 and is headquartered in Mississauga, Canada. “
Shares of Hydrogenics Corp. (NASDAQ:HYGS) opened at 6.63 on Wednesday. Hydrogenics Corp. has a one year low of $4.65 and a one year high of $12.08. The company’s 50 day moving average is $5.67 and its 200-day moving average is $7.19. The firm’s market capitalization is $83.17 million.
Hydrogenics Corp. (NASDAQ:HYGS) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by $0.09. The company had revenue of $9.20 million for the quarter, compared to analyst estimates of $11.40 million. Hydrogenics Corp. had a negative return on equity of 64.61% and a negative net margin of 28.32%. Equities analysts expect that Hydrogenics Corp. will post ($0.73) EPS for the current year.
A number of institutional investors have recently made changes to their positions in the stock. DNB Asset Management AS boosted its position in shares of Hydrogenics Corp. by 16.7% in the second quarter. DNB Asset Management AS now owns 30,965 shares of the company’s stock valued at $214,000 after buying an additional 4,440 shares during the period. Wolverine Asset Management LLC boosted its position in shares of Hydrogenics Corp. by 7.6% in the second quarter. Wolverine Asset Management LLC now owns 351,468 shares of the company’s stock valued at $2,425,000 after buying an additional 24,698 shares during the period. Veritable L.P. acquired a new position in shares of Hydrogenics Corp. during the second quarter valued at about $297,000. Societe Generale acquired a new position in shares of Hydrogenics Corp. during the second quarter valued at about $414,000. Finally, GAM Holding AG boosted its position in shares of Hydrogenics Corp. by 31.7% in the second quarter. GAM Holding AG now owns 299,914 shares of the company’s stock valued at $2,069,000 after buying an additional 72,177 shares during the period. Hedge funds and other institutional investors own 32.00% of the company’s stock.
Hydrogenics Corp. Company Profile
Hydrogenics Corporation designs, develops and manufactures hydrogen generation products based on water electrolysis technology, and fuel cell products based on proton exchange membrane (PEM) technology. The Company’s segments are Onsite Generation and Power Systems. The OnSite Generation segment is based in Oevel, Belgium and develops products for industrial gas, hydrogen fueling and renewable energy storage markets.
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