Hydrogenics Corporation (HYGS) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Hydrogenics Corporation (NASDAQ:HYGS) (TSE:HYG) from a hold rating to a sell rating in a report published on Tuesday.

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 equities analysts have also commented on HYGS. Roth Capital set a $13.00 price target on shares of Hydrogenics Corporation and gave the stock a buy rating in a report on Monday, October 10th. Rodman & Renshaw decreased their price target on shares of Hydrogenics Corporation from $11.00 to $10.00 and set a buy rating on the stock in a report on Tuesday, November 8th.

Shares of Hydrogenics Corporation (NASDAQ:HYGS) remained flat at $4.80 during trading on Tuesday. The company’s stock had a trading volume of 52,912 shares. Hydrogenics Corporation has a one year low of $3.90 and a one year high of $10.33. The firm has a 50 day moving average of $4.61 and a 200 day moving average of $5.79. The stock’s market capitalization is $60.21 million.

Hydrogenics Corporation (NASDAQ:HYGS) last issued its quarterly earnings results on Monday, November 7th. The company reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.03. The firm had revenue of $6.73 million for the quarter, compared to analyst estimates of $10.18 million. Hydrogenics Corporation had a negative net margin of 30.00% and a negative return on equity of 56.14%. On average, equities research analysts forecast that Hydrogenics Corporation will post ($0.76) EPS for the current year.

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Several institutional investors have recently added to or reduced their stakes in HYGS. KBC Group NV raised its position in Hydrogenics Corporation by 8.5% in the third quarter. KBC Group NV now owns 40,734 shares of the company’s stock valued at $267,000 after buying an additional 3,205 shares in the last quarter. DnB Asset Management AS raised its stake in shares of Hydrogenics Corporation by 42.0% in the third quarter. DnB Asset Management AS now owns 43,965 shares of the company’s stock worth $288,000 after buying an additional 13,000 shares during the period. Veritable L.P. purchased a new stake in shares of Hydrogenics Corporation during the second quarter worth about $297,000. GAM Holding AG raised its stake in shares of Hydrogenics Corporation by 31.7% in the second quarter. GAM Holding AG now owns 299,914 shares of the company’s stock worth $2,069,000 after buying an additional 72,177 shares during the period. Finally, Wolverine Asset Management LLC raised its stake in shares of Hydrogenics Corporation by 7.6% in the second quarter. Wolverine Asset Management LLC now owns 351,468 shares of the company’s stock worth $2,425,000 after buying an additional 24,698 shares during the period. 24.29% of the stock is currently owned by institutional investors.

Hydrogenics Corporation Company Profile

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.

5 Day Chart for NASDAQ:HYGS

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