Zacks Investment Research cut shares of Hydrogenics Corporation (NASDAQ:HYGS) (TSE:HYG) from a hold rating to a strong sell rating in a research report released on Wednesday morning.

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. “

A number of other research firms have also recently commented on HYGS. Cowen and Company set a $9.00 target price on shares of Hydrogenics Corporation and gave the stock a hold rating in a research report on Tuesday, July 11th. Roth Capital set a $11.00 target price on shares of Hydrogenics Corporation and gave the stock a buy rating in a research report on Monday, July 31st. HC Wainwright restated a buy rating and issued a $10.00 price target on shares of Hydrogenics Corporation in a research note on Tuesday, August 8th. Finally, ValuEngine upgraded shares of Hydrogenics Corporation from a sell rating to a hold rating in a research note on Wednesday, June 14th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $10.00.

Shares of Hydrogenics Corporation (NASDAQ HYGS) opened at 10.15 on Wednesday. The firm has a 50 day moving average of $8.39 and a 200-day moving average of $8.11. Hydrogenics Corporation has a 12 month low of $3.90 and a 12 month high of $11.25. The stock’s market capitalization is $154.60 million.

Hydrogenics Corporation (NASDAQ:HYGS) (TSE:HYG) last posted its earnings results on Wednesday, August 2nd. The energy company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.30). Hydrogenics Corporation had a negative return on equity of 88.76% and a negative net margin of 39.04%. The firm had revenue of $7.49 million for the quarter, compared to analyst estimates of $9.90 million. Analysts forecast that Hydrogenics Corporation will post ($0.77) earnings per share for the current year.

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Large investors have recently modified their holdings of the stock. TSP Capital Management Group LLC increased its stake in shares of Hydrogenics Corporation by 7.1% in the second quarter. TSP Capital Management Group LLC now owns 993,958 shares of the energy company’s stock worth $10,039,000 after buying an additional 65,852 shares during the last quarter. PEAK6 Investments L.P. bought a new stake in shares of Hydrogenics Corporation in the first quarter worth $111,000. Manatuck Hill Partners LLC bought a new stake in shares of Hydrogenics Corporation in the second quarter worth $3,030,000. Delta Lloyd Asset Management N.V. bought a new stake in shares of Hydrogenics Corporation in the second quarter worth $1,515,000. Finally, Parametric Portfolio Associates LLC bought a new stake in shares of Hydrogenics Corporation in the first quarter worth $655,000. Institutional investors and hedge funds own 19.16% of the company’s stock.

About Hydrogenics Corporation

Hydrogenics Corp is a Canada-based firm, which designs 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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