Zacks Investment Research lowered shares of Hydrogenics (NASDAQ:HYGS) (TSE:HYG) from a hold rating to a sell rating in a report released on Wednesday morning.
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. “
Get Hydrogenics alerts:
HYGS has been the subject of several other research reports. ValuEngine upgraded shares of Hydrogenics from a sell rating to a hold rating in a research note on Friday, November 16th. HC Wainwright set a $8.00 price objective on shares of Hydrogenics and gave the company a buy hygs rating in a research note on Monday, December 24th. Canaccord Genuity started coverage on shares of Hydrogenics in a research note on Wednesday, January 16th. They set a speculative buy rating and a $8.75 price target for the company. Finally, Roth Capital lowered shares of Hydrogenics from a buy rating to a neutral rating and set a $7.00 price target for the company. in a research note on Wednesday, January 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $8.31.
NASDAQ:HYGS opened at $7.61 on Wednesday. The stock has a market capitalization of $144.51 million, a price-to-earnings ratio of -9.51 and a beta of 0.80. Hydrogenics has a 52 week low of $3.80 and a 52 week high of $9.40.
Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC purchased a new stake in shares of Hydrogenics during the 3rd quarter worth approximately $133,000. Emancipation Management LLC increased its stake in shares of Hydrogenics by 43.1% during the 4th quarter. Emancipation Management LLC now owns 37,200 shares of the energy company’s stock worth $186,000 after purchasing an additional 11,200 shares during the last quarter. Finally, Heartland Advisors Inc. increased its stake in shares of Hydrogenics by 7.7% during the 3rd quarter. Heartland Advisors Inc. now owns 1,018,042 shares of the energy company’s stock worth $7,381,000 after purchasing an additional 73,042 shares during the last quarter. Institutional investors own 17.52% of the company’s stock.
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 technology. It operates in two segments, OnSite Generation and Power Systems. The OnSite Generation segment develops products for industrial gas, hydrogen fueling, and renewable energy storage markets.
Further Reading: What is a Derivative?
Get a free copy of the Zacks research report on Hydrogenics (HYGS)
For more information about research offerings from Zacks Investment Research, visit Zacks.com