Wall Street brokerages expect Hydrogenics Co. (NASDAQ:HYGS) (TSE:HYG) to report $16.43 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Hydrogenics’ earnings, with the highest sales estimate coming in at $17.50 million and the lowest estimate coming in at $15.30 million. Hydrogenics posted sales of $8.73 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 88.2%. The company is scheduled to issue its next earnings results on Wednesday, March 14th.
On average, analysts expect that Hydrogenics will report full-year sales of $16.43 million for the current fiscal year, with estimates ranging from $43.80 million to $46.00 million. For the next financial year, analysts anticipate that the firm will report sales of $71.07 million per share, with estimates ranging from $69.10 million to $72.50 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Hydrogenics.
Several equities research analysts have recently commented on HYGS shares. HC Wainwright restated a “buy” rating and issued a $10.00 price target on shares of Hydrogenics in a report on Tuesday, November 7th. Roth Capital set a $11.00 price target on shares of Hydrogenics and gave the company a “buy” rating in a report on Friday, October 27th. ValuEngine lowered shares of Hydrogenics from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Zacks Investment Research lowered shares of Hydrogenics from a “hold” rating to a “sell” rating in a report on Wednesday, January 24th. Finally, Cowen restated a “hold” rating and issued a $9.00 price target on shares of Hydrogenics in a report on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. Hydrogenics presently has a consensus rating of “Hold” and an average price target of $10.50.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. PEAK6 Investments L.P. raised its stake in shares of Hydrogenics by 241.0% during the 3rd quarter. PEAK6 Investments L.P. now owns 100,355 shares of the energy company’s stock worth $818,000 after acquiring an additional 70,924 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new position in shares of Hydrogenics during the 4th quarter worth approximately $518,000. Renaissance Technologies LLC bought a new position in shares of Hydrogenics during the 4th quarter worth approximately $237,000. Finally, Wells Fargo & Company MN raised its stake in shares of Hydrogenics by 639.5% during the 2nd quarter. Wells Fargo & Company MN now owns 15,462 shares of the energy company’s stock worth $157,000 after acquiring an additional 13,371 shares in the last quarter. Hedge funds and other institutional investors own 24.56% of the company’s stock.
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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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