ValuEngine Lowers Hydrogenics (HYGS) to Sell

ValuEngine downgraded shares of Hydrogenics (NASDAQ:HYGS) (TSE:HYG) from a hold rating to a sell rating in a research note released on Friday morning.

A number of other research firms have also recently issued reports on HYGS. Cowen reaffirmed a hold rating and issued a $9.00 price objective on shares of Hydrogenics in a research report on Tuesday, October 17th. Zacks Investment Research raised Hydrogenics from a strong sell rating to a hold rating in a research report on Monday, October 16th. HC Wainwright reaffirmed a buy rating and issued a $10.00 price objective on shares of Hydrogenics in a research report on Tuesday, November 7th. Finally, Roth Capital set a $11.00 price objective on Hydrogenics and gave the company a buy rating in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $10.00.

Hydrogenics (NASDAQ:HYGS) traded up $0.05 on Friday, hitting $9.80. The stock had a trading volume of 25,500 shares, compared to its average volume of 80,753. Hydrogenics has a 52 week low of $3.90 and a 52 week high of $11.25.

Several institutional investors and hedge funds have recently added to or reduced their stakes in HYGS. Stratos Wealth Partners LTD. lifted its position in shares of Hydrogenics by 9.7% in the second quarter. Stratos Wealth Partners LTD. now owns 11,350 shares of the energy company’s stock valued at $115,000 after buying an additional 1,000 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in 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 purchasing an additional 13,371 shares during the last quarter. Virtu KCG Holdings LLC acquired a new stake in Hydrogenics during the 2nd quarter worth approximately $401,000. PEAK6 Investments L.P. lifted its holdings in 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 purchasing an additional 70,924 shares during the last quarter. Finally, GAM Holding AG lifted its holdings in Hydrogenics by 8.9% during the 2nd quarter. GAM Holding AG now owns 106,500 shares of the energy company’s stock worth $1,076,000 after purchasing an additional 8,663 shares during the last quarter. 26.41% of the stock is owned by institutional investors.

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About Hydrogenics

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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