Hydrogenics Corp. (HYGS) Sees Strong Trading Volume
Shares of Hydrogenics Corp. (NASDAQ:HYGS) saw unusually-high trading volume on Tuesday . Approximately 94,808 shares were traded during trading, an increase of 80% from the previous session’s volume of 52,568 shares.The stock last traded at $5.56 and had previously closed at $5.96.
HYGS has been the subject of a number of research reports. Zacks Investment Research cut Hydrogenics Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Roth Capital reiterated a “buy” rating and set a $13.00 target price on shares of Hydrogenics Corp. in a report on Thursday, May 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $12.00.
The company has a 50-day moving average price of $6.91 and a 200-day moving average price of $7.76. The firm’s market capitalization is $69.87 million.
Hydrogenics Corp. (NASDAQ:HYGS) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by $0.09. The firm had revenue of $9.20 million for the quarter, compared to the consensus estimate of $11.40 million. Analysts anticipate that Hydrogenics Corp. will post ($0.73) earnings per share for the current year.
A hedge fund recently raised its stake in Hydrogenics Corp. stock. Royce & Associates LLC raised its position in Hydrogenics Corp. (NASDAQ:HYGS) by 56.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 416,295 shares of the company’s stock after buying an additional 150,000 shares during the period. Royce & Associates LLC owned about 4.13% of Hydrogenics Corp. worth $3,651,000 at the end of the most recent reporting period.
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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