Hydrogenics Corp. (NASDAQ:HYGS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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. “
Hydrogenics Corp. (NASDAQ:HYGS) traded down 0.45% on Wednesday, hitting $6.65. 2,783 shares of the stock were exchanged. The company’s 50 day moving average price is $5.73 and its 200-day moving average price is $7.18. Hydrogenics Corp. has a one year low of $4.65 and a one year high of $12.08. The company’s market cap is $83.42 million.
Hydrogenics Corp. (NASDAQ:HYGS) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by $0.09. The company earned $9.20 million during the quarter, compared to analysts’ expectations of $11.40 million. Hydrogenics Corp. had a negative return on equity of 64.61% and a negative net margin of 28.32%. Equities research analysts predict that Hydrogenics Corp. will post ($0.73) EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. DNB Asset Management AS raised its stake in Hydrogenics Corp. by 16.7% in the second quarter. DNB Asset Management AS now owns 30,965 shares of the company’s stock worth $214,000 after buying an additional 4,440 shares during the period. Societe Generale purchased a new position in Hydrogenics Corp. during the second quarter worth approximately $414,000. GAM Holding AG increased its position in Hydrogenics Corp. 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 in the last quarter. Veritable L.P. purchased a new position in Hydrogenics Corp. during the second quarter worth approximately $297,000. Finally, Wolverine Asset Management LLC increased its position in Hydrogenics Corp. 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 in the last quarter. 32.00% of the stock is owned by institutional investors and hedge funds.
About Hydrogenics Corp.
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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