Hydrogenics (HYGS) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Hydrogenics (NASDAQ:HYGS) (TSE:HYG) from a buy rating to a hold rating in a report issued 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. “

Several other equities research analysts also recently issued reports on the company. ValuEngine downgraded Hydrogenics from a hold rating to a sell rating in a report on Friday, December 1st. HC Wainwright reiterated a buy rating and issued a $10.00 price objective on shares of Hydrogenics in a report on Tuesday, November 7th. Roth Capital set a $11.00 price objective on Hydrogenics and gave the company a buy rating in a report on Friday, October 27th. Finally, Cowen reiterated a hold rating and issued a $9.00 price objective on shares of Hydrogenics in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Hydrogenics presently has a consensus rating of Hold and an average target price of $10.50.

Shares of Hydrogenics (HYGS) opened at $11.20 on Wednesday. The stock has a market capitalization of $167.56, a price-to-earnings ratio of -11.67 and a beta of 1.34. Hydrogenics has a 1-year low of $4.75 and a 1-year high of $11.99.

Hedge funds have recently bought and sold shares of the stock. Manatuck Hill Partners LLC purchased a new stake in shares of Hydrogenics in the 2nd quarter valued at $3,030,000. PEAK6 Investments L.P. raised its holdings in shares of Hydrogenics by 241.0% in the 3rd quarter. PEAK6 Investments L.P. now owns 100,355 shares of the energy company’s stock valued at $818,000 after buying an additional 70,924 shares during the period. Virtu KCG Holdings LLC purchased a new stake in shares of Hydrogenics in the 2nd quarter valued at $401,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Hydrogenics by 639.5% in the 2nd 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 period. Hedge funds and other institutional investors own 25.17% of the company’s stock.

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About Hydrogenics

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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