Hydrogenics Corp. (NASDAQ:HYGS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

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. “

Shares of Hydrogenics Corp. (NASDAQ:HYGS) traded down 1.20% during trading on Wednesday, hitting $6.60. 33,556 shares of the stock traded hands. Hydrogenics Corp. has a 1-year low of $4.65 and a 1-year high of $12.08. The stock has a 50-day moving average of $5.75 and a 200 day moving average of $7.17. The company’s market cap is $82.79 million.

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Hydrogenics Corp. (NASDAQ:HYGS) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.25) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by $0.09. The firm earned $9.20 million during the quarter, compared to analysts’ expectations of $11.40 million. Hydrogenics Corp. had a negative net margin of 28.32% and a negative return on equity of 64.61%. On average, equities research analysts predict that Hydrogenics Corp. will post ($0.73) EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Wolverine Asset Management LLC raised its position in Hydrogenics Corp. by 7.6% in the second quarter. Wolverine Asset Management LLC now owns 351,468 shares of the company’s stock valued at $2,425,000 after buying an additional 24,698 shares during the last quarter. Veritable L.P. bought a new position in Hydrogenics Corp. during the second quarter valued at $297,000. GAM Holding AG raised its position in Hydrogenics Corp. by 31.7% in the second quarter. GAM Holding AG now owns 299,914 shares of the company’s stock valued at $2,069,000 after buying an additional 72,177 shares during the last quarter. Societe Generale bought a new position in Hydrogenics Corp. during the second quarter valued at $414,000. Finally, DNB Asset Management AS raised its position in Hydrogenics Corp. by 16.7% in the second quarter. DNB Asset Management AS now owns 30,965 shares of the company’s stock valued at $214,000 after buying an additional 4,440 shares during the last quarter. Institutional investors own 32.00% of the company’s stock.

About Hydrogenics Corp.

Hydrogenics Corporation designs, develops 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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