Hydrogenics Corp. (HYGS) Raised to Hold at Zacks Investment Research
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) opened at 6.60 on Wednesday. The company’s market cap is $82.79 million. Hydrogenics Corp. has a 52 week low of $4.65 and a 52 week high of $12.08. The company has a 50-day moving average price of $5.75 and a 200 day moving average price of $7.17.
Hydrogenics Corp. (NASDAQ:HYGS) last released its earnings results on Wednesday, August 3rd. The company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by $0.09. Hydrogenics Corp. had a negative return on equity of 64.61% and a negative net margin of 28.32%. The business earned $9.20 million during the quarter, compared to analysts’ expectations of $11.40 million. On average, equities research analysts forecast that Hydrogenics Corp. will post ($0.73) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DNB Asset Management AS raised its position 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. Wolverine Asset Management LLC raised 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 during the period. Veritable L.P. acquired a new position in Hydrogenics Corp. during the second quarter worth $297,000. Societe Generale acquired a new position in Hydrogenics Corp. during the second quarter worth $414,000. Finally, GAM Holding AG raised 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 during the period. 32.00% of the stock is currently owned by institutional investors and hedge funds.
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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