Hydrogenics (NASDAQ:HYGS) (TSE:HYG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
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. “
Several other analysts have also commented on HYGS. HC Wainwright raised their price objective on shares of Hydrogenics from $7.50 to $9.00 and gave the stock a “buy” rating in a report on Monday, March 18th. ValuEngine lowered shares of Hydrogenics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 18th. Roth Capital lowered shares of Hydrogenics from a “buy” rating to a “neutral” rating and set a $7.00 target price for the company. in a report on Wednesday, January 30th. Finally, Canaccord Genuity began coverage on shares of Hydrogenics in a report on Wednesday, January 16th. They set a “speculative buy” rating and a $8.75 target price for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $8.56.
Shares of HYGS opened at $8.07 on Thursday. Hydrogenics has a one year low of $3.80 and a one year high of $9.10.
Hydrogenics (NASDAQ:HYGS) (TSE:HYG) last issued its quarterly earnings data on Friday, March 15th. The energy company reported ($0.20) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.03. Hydrogenics had a negative net margin of 39.35% and a negative return on equity of 81.90%. The business had revenue of $10.48 million during the quarter, compared to analyst estimates of $10.05 million. As a group, analysts expect that Hydrogenics will post -0.43 EPS for the current fiscal year.
An institutional investor recently raised its position in Hydrogenics stock. Emancipation Management LLC grew its holdings in shares of Hydrogenics Co. (NASDAQ:HYGS) (TSE:HYG) by 43.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 37,200 shares of the energy company’s stock after purchasing an additional 11,200 shares during the period. Hydrogenics makes up approximately 0.7% of Emancipation Management LLC’s holdings, making the stock its 21st largest position. Emancipation Management LLC owned approximately 0.20% of Hydrogenics worth $186,000 as of its most recent SEC filing. Institutional investors own 16.45% of the company’s stock.
Hydrogenics Company Profile
Hydrogenics Corporation, together with its subsidiaries, designs, develops, and manufactures hydrogen generation products based on water electrolysis technology; and fuel cell products based on proton exchange membrane technology. It operates in two segments, OnSite Generation and Power Systems. The OnSite Generation segment develops products for industrial gas, hydrogen fueling, and renewable energy storage markets.
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