Hydrogenics (NASDAQ:HYGS) (TSE:HYG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday, Zacks.com reports.

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 equities analysts also recently commented on the stock. ValuEngine raised shares of Hydrogenics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Roth Capital increased their target price on shares of Hydrogenics from $8.50 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, July 1st. BidaskClub raised shares of Hydrogenics from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th. Canaccord Genuity cut shares of Hydrogenics from a “buy” rating to a “hold” rating in a report on Friday, June 28th. Finally, HC Wainwright cut shares of Hydrogenics from a “buy” rating to a “neutral” rating in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $10.92.

Hydrogenics stock traded up $0.02 during mid-day trading on Thursday, hitting $14.96. 224,500 shares of the company’s stock were exchanged, compared to its average volume of 140,881. The stock has a market cap of $284.13 million, a P/E ratio of -17.40 and a beta of 0.63. Hydrogenics has a 1-year low of $3.80 and a 1-year high of $16.50. The stock has a 50 day moving average of $14.92 and a two-hundred day moving average of $10.43.

Hydrogenics (NASDAQ:HYGS) (TSE:HYG) last posted its earnings results on Monday, August 12th. The energy company reported ($0.25) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.13). The business had revenue of $10.46 million for the quarter, compared to analyst estimates of $10.50 million. Hydrogenics had a negative return on equity of 78.06% and a negative net margin of 38.16%. Analysts expect that Hydrogenics will post -0.44 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. TSP Capital Management Group LLC boosted its holdings in Hydrogenics by 2.3% during the second quarter. TSP Capital Management Group LLC now owns 1,279,653 shares of the energy company’s stock valued at $19,003,000 after acquiring an additional 29,050 shares during the period. Invesco Ltd. boosted its holdings in Hydrogenics by 345.5% during the second quarter. Invesco Ltd. now owns 340,585 shares of the energy company’s stock valued at $5,058,000 after acquiring an additional 264,142 shares during the period. Gabelli Funds LLC bought a new stake in Hydrogenics during the second quarter valued at about $2,180,000. Renaissance Technologies LLC boosted its holdings in Hydrogenics by 223.9% during the second quarter. Renaissance Technologies LLC now owns 54,250 shares of the energy company’s stock valued at $806,000 after acquiring an additional 37,500 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Hydrogenics during the second quarter valued at about $764,000. Institutional investors own 11.09% 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 (PEM) technology. It operates through two segments, OnSite Generation and Power Systems.

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