Todays Report: Today, Rodman & Renshaw Trims Hydrogenics Corp. (HYGS) Target Price to $10.00

Today, Rodman & Renshaw Trims Hydrogenics Corp. (HYGS) Target Price to $10.00

Hydrogenics Corp. (NASDAQ:HYGS) (TSE:HYG) had its price objective reduced by equities researchers at Rodman & Renshaw from $11.00 to $10.00 in a note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the stock. Rodman & Renshaw’s price objective would indicate a potential upside of 88.68% from the company’s current price.

A number of other analysts have also weighed in on HYGS. Zacks Investment Research lowered Hydrogenics Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Roth Capital set a $13.00 price objective on Hydrogenics Corp. and gave the company a “buy” rating in a research note on Monday, October 10th.

Shares of Hydrogenics Corp. (NASDAQ:HYGS) traded up 1.92% during mid-day trading on Tuesday, reaching $5.30. 26,148 shares of the company’s stock were exchanged. Hydrogenics Corp. has a one year low of $4.30 and a one year high of $11.89. The stock has a 50-day moving average of $5.53 and a 200 day moving average of $6.37. The firm’s market capitalization is $66.48 million.

Hydrogenics Corp. (NASDAQ:HYGS) last released its quarterly earnings data on Monday, November 7th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.03. The firm earned $6.73 million during the quarter, compared to analyst estimates of $10.18 million. Hydrogenics Corp. had a negative return on equity of 56.14% and a negative net margin of 30.00%. On average, analysts forecast that Hydrogenics Corp. will post ($0.76) EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the company. TSP Capital Management Group LLC raised its stake in shares of Hydrogenics Corp. by 52.0% in the third quarter. TSP Capital Management Group LLC now owns 541,656 shares of the company’s stock worth $3,553,000 after buying an additional 185,250 shares during the last quarter. Wolverine Asset Management LLC raised its stake in shares of Hydrogenics Corp. by 7.6% in the second quarter. Wolverine Asset Management LLC now owns 351,468 shares of the company’s stock worth $2,425,000 after buying an additional 24,698 shares during the last quarter. GAM Holding AG raised its stake in shares of Hydrogenics Corp. by 31.7% in the second quarter. GAM Holding AG now owns 299,914 shares of the company’s stock worth $2,069,000 after buying an additional 72,177 shares during the last quarter. Societe Generale acquired a new stake in shares of Hydrogenics Corp. during the second quarter worth approximately $414,000. Finally, DnB Asset Management AS raised its stake in shares of Hydrogenics Corp. by 42.0% in the third quarter. DnB Asset Management AS now owns 43,965 shares of the company’s stock worth $288,000 after buying an additional 13,000 shares during the last quarter. 26.87% of the stock is owned by institutional investors.

About Hydrogenics Corp.

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