Hydrogenics Corporation (NASDAQ:HYGS) (TSE:HYG) has been given a $9.00 price objective by equities research analysts at Cowen and Company in a research report issued on Friday. The firm presently has a “hold” rating on the energy company’s stock. Cowen and Company’s price objective would indicate a potential upside of 24.14% from the company’s previous close.
Several other analysts also recently issued reports on the company. ValuEngine upgraded Hydrogenics Corporation from a “sell” rating to a “hold” rating in a research note on Thursday. HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of Hydrogenics Corporation in a research note on Tuesday, August 8th. Zacks Investment Research downgraded Hydrogenics Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Roth Capital set a $11.00 target price on Hydrogenics Corporation and gave the company a “buy” rating in a research note on Monday, July 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Hydrogenics Corporation currently has an average rating of “Buy” and a consensus price target of $10.00.
Hydrogenics Corporation (NASDAQ HYGS) opened at 7.25 on Friday. The firm’s market capitalization is $110.43 million. The company’s 50-day moving average price is $9.02 and its 200 day moving average price is $7.51. Hydrogenics Corporation has a 52-week low of $3.90 and a 52-week high of $11.25.
Hydrogenics Corporation (NASDAQ:HYGS) (TSE:HYG) last released its quarterly earnings results on Wednesday, August 2nd. The energy company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by $0.30. The company had revenue of $7.49 million for the quarter, compared to the consensus estimate of $9.90 million. Hydrogenics Corporation had a negative return on equity of 88.76% and a negative net margin of 39.04%. Equities research analysts predict that Hydrogenics Corporation will post ($0.68) earnings per share for the current year.
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A number of hedge funds have recently made changes to their positions in the stock. PEAK6 Investments L.P. acquired a new stake in shares of Hydrogenics Corporation during the first quarter valued at $111,000. Stratos Wealth Partners LTD. increased its stake in shares of Hydrogenics Corporation by 9.7% in the second quarter. Stratos Wealth Partners LTD. now owns 11,350 shares of the energy company’s stock valued at $115,000 after buying an additional 1,000 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Hydrogenics Corporation by 639.5% in the second quarter. Wells Fargo & Company MN now owns 15,462 shares of the energy company’s stock valued at $157,000 after buying an additional 13,371 shares during the last quarter. KBC Group NV increased its stake in shares of Hydrogenics Corporation by 7.3% in the first quarter. KBC Group NV now owns 43,703 shares of the energy company’s stock valued at $293,000 after buying an additional 2,969 shares during the last quarter. Finally, Virtu KCG Holdings LLC acquired a new stake in shares of Hydrogenics Corporation during the second quarter valued at $401,000. Hedge funds and other institutional investors own 21.80% of the company’s stock.
About Hydrogenics Corporation
Hydrogenics Corp is a Canada-based firm, which designs 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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