Hydrogenics Corporat Sees Large Volume Increase After Better-Than-Expected Earnings (HYGS)
Hydrogenics Corporat (NASDAQ:HYGS) shares saw an uptick in trading volume on Wednesday following a better than expected earnings announcement, AnalystRatingsNetwork reports. 351,991 shares traded hands during trading, an increase of 131% from the previous session’s volume of 152,357 shares.The stock last traded at $23.44 and had previously closed at $20.81.
The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.25. The company had revenue of $10.70 million for the quarter, compared to the consensus estimate of $11.35 million.
A number of research firms have recently commented on HYGS. Analysts at Jennings Capital initiated coverage on shares of Hydrogenics Corporat in a research note on Wednesday, June 18th. They set a “buy” rating on the stock. Analysts at Canaccord Genuity cut their price target on shares of Hydrogenics Corporat from $35.00 to $32.00 in a research note on Friday, May 16th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $28.07.
The stock’s 50-day moving average is $17.64 and its 200-day moving average is $21.21. The company’s market cap is $210.1 million.
Hydrogenics Corporation (NASDAQ:HYGS) 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.
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