Hydrogenics Corporation (HYGS) PT Set at $9.00 by Cowen and Company
Hydrogenics Corporation (NASDAQ:HYGS) (TSE:HYG) received a $9.00 target price from stock analysts at Cowen and Company in a research report issued on Friday. The brokerage presently has a “hold” rating on the energy company’s stock. Cowen and Company’s target price points to a potential upside of 24.14% from the company’s current price.
Several other analysts have also recently issued reports on the company. Zacks Investment Research upgraded Hydrogenics Corporation from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research note on Tuesday, May 16th. ValuEngine upgraded Hydrogenics Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Roth Capital set a $11.00 price objective on Hydrogenics Corporation and gave the company a “buy” rating in a research note on Monday, July 31st. Finally, HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Hydrogenics Corporation in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Hydrogenics Corporation currently has a consensus rating of “Buy” and an average target price of $10.00.
Hydrogenics Corporation (NASDAQ HYGS) traded down 1.36% on Friday, reaching $7.25. The company’s stock had a trading volume of 57,278 shares. Hydrogenics Corporation has a 52 week low of $3.90 and a 52 week high of $11.25. The company has a 50 day moving average of $9.02 and a 200 day moving average of $7.51. The firm’s market capitalization is $110.43 million.
Hydrogenics Corporation (NASDAQ:HYGS) (TSE:HYG) last announced its quarterly earnings data on Wednesday, August 2nd. The energy company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by $0.30. The company had revenue of $7.49 million during the quarter, compared to analyst estimates of $9.90 million. Hydrogenics Corporation had a negative net margin of 39.04% and a negative return on equity of 88.76%. On average, analysts forecast that Hydrogenics Corporation will post ($0.68) earnings per share for the current year.
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Institutional investors have recently bought and sold shares of the stock. TSP Capital Management Group LLC raised its position in Hydrogenics Corporation by 64.7% in the first quarter. TSP Capital Management Group LLC now owns 928,106 shares of the energy company’s stock valued at $6,218,000 after buying an additional 364,440 shares during the period. Delta Lloyd Asset Management N.V. acquired a new position in Hydrogenics Corporation during the second quarter valued at approximately $1,515,000. Granite Investment Partners LLC acquired a new position in Hydrogenics Corporation during the second quarter valued at approximately $1,468,000. Parametric Portfolio Associates LLC acquired a new position in Hydrogenics Corporation during the first quarter valued at approximately $655,000. Finally, Virtu KCG Holdings LLC acquired a new position in Hydrogenics Corporation during the second quarter valued at approximately $401,000. 21.80% of the stock is currently owned by hedge funds and other institutional investors.
About Hydrogenics Corporation
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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