BidaskClub Lowers Hydrogenics (NASDAQ:HYGS) to Buy

BidaskClub cut shares of Hydrogenics (NASDAQ:HYGS) (TSE:HYG) from a strong-buy rating to a buy rating in a report issued on Tuesday, BidAskClub reports.

Other analysts have also recently issued reports about the stock. ValuEngine upgraded shares of Hydrogenics from a buy rating to a strong-buy rating in a research note on Thursday, May 30th. HC Wainwright cut shares of Hydrogenics from a buy rating to a neutral rating in a research note on Friday, June 28th. Roth Capital lifted their target price on shares of Hydrogenics from $8.50 to $15.00 and gave the company a neutral rating in a research note on Monday, July 1st. Craig Hallum cut shares of Hydrogenics from a buy rating to a hold rating in a research note on Friday, June 28th. Finally, Zacks Investment Research cut shares of Hydrogenics from a hold rating to a sell rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $10.92.

HYGS stock opened at $14.97 on Tuesday. The stock has a market cap of $285.11 million, a P/E ratio of -17.41 and a beta of 0.63. The firm has a 50 day simple moving average of $14.92 and a 200 day simple moving average of $10.69. Hydrogenics has a 52 week low of $3.80 and a 52 week high of $16.50.

Hydrogenics (NASDAQ:HYGS) (TSE:HYG) last posted its quarterly earnings results on Monday, August 12th. The energy company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.13). The company 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 71.70% and a negative net margin of 38.16%. On average, analysts predict that Hydrogenics will post -0.52 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Morgan Stanley increased its position in shares of Hydrogenics by 31.5% in the second quarter. Morgan Stanley now owns 40,412 shares of the energy company’s stock worth $600,000 after acquiring an additional 9,677 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Hydrogenics by 345.5% during the second quarter. Invesco Ltd. now owns 340,585 shares of the energy company’s stock worth $5,058,000 after purchasing an additional 264,142 shares during the period. Ancora Advisors LLC acquired a new stake in shares of Hydrogenics during the second quarter worth approximately $297,000. Renaissance Technologies LLC boosted its holdings in shares of Hydrogenics by 223.9% during the second quarter. Renaissance Technologies LLC now owns 54,250 shares of the energy company’s stock worth $806,000 after purchasing an additional 37,500 shares during the period. Finally, Cetera Advisor Networks LLC acquired a new stake in shares of Hydrogenics during the second quarter worth approximately $318,000. Hedge funds and other institutional investors own 7.00% 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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