Zacks Investment Research cut shares of Hydrogenics Corporation (NASDAQ:HYGS) (TSE:HYG) from a hold rating to a sell rating in a report published on Tuesday.

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 research analysts have also recently issued reports on the company. Roth Capital set a $13.00 price objective on Hydrogenics Corporation and gave the stock a buy rating in a research report on Monday, October 10th. Rodman & Renshaw lowered their price objective on Hydrogenics Corporation from $11.00 to $10.00 and set a buy rating for the company in a research report on Tuesday, November 8th.

Shares of Hydrogenics Corporation (NASDAQ:HYGS) traded up 1.03% on Tuesday, reaching $4.90. The company had a trading volume of 393 shares. The company’s 50-day moving average price is $4.61 and its 200 day moving average price is $5.79. Hydrogenics Corporation has a 52 week low of $3.90 and a 52 week high of $10.33. The firm’s market capitalization is $61.47 million.

Hydrogenics Corporation (NASDAQ:HYGS) last released its quarterly earnings data on Monday, November 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.03. The business earned $6.73 million during the quarter, compared to analysts’ expectations of $10.18 million. Hydrogenics Corporation had a negative return on equity of 56.14% and a negative net margin of 30.00%. On average, analysts expect that Hydrogenics Corporation will post ($0.76) EPS for the current year.

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Several hedge funds have recently made changes to their positions in HYGS. TSP Capital Management Group LLC boosted its stake in shares of Hydrogenics Corporation by 52.0% in the third quarter. TSP Capital Management Group LLC now owns 541,656 shares of the company’s stock worth $3,553,000 after buying an additional 185,250 shares during the period. KBC Group NV boosted its stake in shares of Hydrogenics Corporation by 8.5% in the third quarter. KBC Group NV now owns 40,734 shares of the company’s stock worth $267,000 after buying an additional 3,205 shares during the period. DnB Asset Management AS boosted its stake in shares of Hydrogenics Corporation by 42.0% in the third quarter. DnB Asset Management AS now owns 43,965 shares of the company’s stock worth $288,000 after buying an additional 13,000 shares during the period. Wolverine Asset Management LLC boosted its stake in shares of Hydrogenics Corporation by 7.6% in the second quarter. Wolverine Asset Management LLC now owns 351,468 shares of the company’s stock worth $2,425,000 after buying an additional 24,698 shares during the period. Finally, Veritable L.P. purchased a new stake in shares of Hydrogenics Corporation during the second quarter worth about $297,000. 24.29% of the stock is owned by hedge funds and other institutional investors.

Hydrogenics Corporation Company Profile

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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