Hydrogenics (HYGS) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Hydrogenics (NASDAQ:HYGS) (TSE:HYG) from a hold rating to a buy rating in a research note released on Wednesday morning. They currently have $12.00 price objective on the energy company’s stock.
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. “
Other equities research analysts have also issued research reports about the company. ValuEngine lowered Hydrogenics from a hold rating to a sell rating in a research note on Friday, December 1st. Cowen reaffirmed a hold rating and issued a $9.00 target price on shares of Hydrogenics in a research note on Tuesday, October 17th. Roth Capital set a $11.00 target price on Hydrogenics and gave the company a buy rating in a research note on Friday, October 27th. Finally, HC Wainwright reaffirmed a buy rating and issued a $10.00 target price on shares of Hydrogenics in a research note on Tuesday, November 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $10.50.
Shares of Hydrogenics (HYGS) traded down $0.25 during trading hours on Wednesday, hitting $10.75. The stock had a trading volume of 45,955 shares, compared to its average volume of 68,886. Hydrogenics has a fifty-two week low of $4.60 and a fifty-two week high of $11.99.
A number of hedge funds have recently bought and sold shares of HYGS. Wells Fargo & Company MN lifted its stake in 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 in the last quarter. Virtu KCG Holdings LLC purchased a new stake in Hydrogenics in the 2nd quarter valued at approximately $401,000. PEAK6 Investments L.P. lifted its stake in 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 in the last quarter. Delta Lloyd Asset Management N.V. purchased a new stake in Hydrogenics in the 2nd quarter valued at approximately $1,515,000. Finally, Manatuck Hill Partners LLC purchased a new stake in Hydrogenics in the 2nd quarter valued at approximately $3,030,000. 25.17% of the stock is currently owned by hedge funds and other institutional investors.
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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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