Zacks Investment Research cut shares of Hydrogenics (NASDAQ:HYGS) (TSE:HYG) from a buy rating to a hold rating in a research report released 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. “
Several other research analysts have also commented on the stock. ValuEngine lowered shares of Hydrogenics from a hold rating to a sell rating in a research note on Friday, December 1st. HC Wainwright reaffirmed a buy rating and set a $10.00 price objective on shares of Hydrogenics in a research note on Tuesday, November 7th. Roth Capital set a $11.00 price objective on shares of Hydrogenics and gave the stock a buy rating in a research note on Friday, October 27th. Finally, Cowen reaffirmed a hold rating and set a $9.00 price objective on shares of Hydrogenics in a research note on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $10.50.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN boosted its stake in shares of Hydrogenics by 639.5% during the second quarter. Wells Fargo & Company MN now owns 15,462 shares of the energy company’s stock valued at $157,000 after purchasing an additional 13,371 shares during the period. Virtu KCG Holdings LLC purchased a new stake in shares of Hydrogenics during the second quarter valued at $401,000. PEAK6 Investments L.P. boosted its stake in shares of Hydrogenics by 241.0% during the third quarter. PEAK6 Investments L.P. now owns 100,355 shares of the energy company’s stock valued at $818,000 after purchasing an additional 70,924 shares during the period. Finally, Manatuck Hill Partners LLC purchased a new stake in shares of Hydrogenics during the second quarter valued at $3,030,000. 25.17% of the stock is owned by institutional investors.
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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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