Hydrogenics (NASDAQ:HYGS) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of Hydrogenics (NASDAQ:HYGS) (TSE:HYG) from a hold rating to a sell rating in a research note issued to investors on Thursday morning, Zacks.com reports.

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. “

HYGS has been the topic of several other research reports. Craig Hallum downgraded Hydrogenics from a buy rating to a hold rating in a research report on Friday, June 28th. ValuEngine upgraded Hydrogenics from a buy rating to a strong-buy rating in a research report on Thursday, May 30th. HC Wainwright downgraded Hydrogenics from a buy rating to a neutral rating in a research report on Friday, June 28th. Canaccord Genuity downgraded Hydrogenics from a buy rating to a hold rating in a research report on Friday, June 28th. Finally, Roth Capital raised their target price on Hydrogenics from $8.50 to $15.00 and gave the company a neutral rating in a research report on Monday, July 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $10.92.

NASDAQ HYGS opened at $14.97 on Thursday. The stock’s 50 day simple moving average is $14.90 and its 200-day simple moving average is $10.45. Hydrogenics has a 1-year low of $3.80 and a 1-year high of $16.50.

Hydrogenics (NASDAQ:HYGS) (TSE:HYG) last released its earnings results on Monday, August 12th. The energy company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.13). The firm had revenue of $10.46 million during the quarter, compared to analysts’ expectations of $10.50 million. Hydrogenics had a negative net margin of 38.16% and a negative return on equity of 71.70%. On average, research analysts predict that Hydrogenics will post -0.52 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in HYGS. Ancora Advisors LLC purchased a new position in Hydrogenics during the second quarter worth approximately $297,000. Gamco Investors INC. ET AL purchased a new position in Hydrogenics during the second quarter worth approximately $309,000. NJ State Employees Deferred Compensation Plan lifted its position in Hydrogenics by 11.1% during the first quarter. NJ State Employees Deferred Compensation Plan now owns 40,000 shares of the energy company’s stock worth $317,000 after buying an additional 4,000 shares in the last quarter. Cetera Advisor Networks LLC purchased a new position in Hydrogenics during the second quarter worth approximately $318,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in Hydrogenics during the second quarter worth approximately $325,000. Hedge funds and other institutional investors own 7.00% of the company’s stock.

About Hydrogenics

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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