Hydrogenics Co. (NASDAQ:HYGS) Expected to Announce Quarterly Sales of $10.50 Million

Analysts predict that Hydrogenics Co. (NASDAQ:HYGS) (TSE:HYG) will post $10.50 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Hydrogenics’ earnings, with estimates ranging from $9.00 million to $12.00 million. Hydrogenics posted sales of $7.61 million during the same quarter last year, which suggests a positive year over year growth rate of 38%. The company is expected to report its next earnings results before the market opens on Monday, August 12th.

According to Zacks, analysts expect that Hydrogenics will report full-year sales of $44.05 million for the current year, with estimates ranging from $38.10 million to $50.00 million. For the next financial year, analysts expect that the firm will post sales of $90.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Hydrogenics.

Hydrogenics (NASDAQ:HYGS) (TSE:HYG) last issued its quarterly earnings results on Tuesday, May 14th. The energy company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Hydrogenics had a negative net margin of 41.47% and a negative return on equity of 78.93%. The firm had revenue of $8.08 million for the quarter, compared to the consensus estimate of $9.55 million.

HYGS has been the topic of several research reports. Roth Capital boosted their price target on Hydrogenics from $8.50 to $15.00 and gave the company a “neutral” rating in a research note on Monday, July 1st. ValuEngine upgraded Hydrogenics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 30th. BidaskClub upgraded Hydrogenics from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 6th. Craig Hallum lowered Hydrogenics from a “buy” rating to a “hold” rating in a research note on Friday, June 28th. Finally, Canaccord Genuity lowered Hydrogenics from a “buy” rating to a “hold” rating in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $10.92.

HYGS traded down $0.03 on Thursday, hitting $14.93. 130,957 shares of the stock traded hands, compared to its average volume of 220,421. Hydrogenics has a 52 week low of $3.80 and a 52 week high of $16.50. The company has a market cap of $284.51 million, a price-to-earnings ratio of -17.36 and a beta of 0.63. The business has a fifty day moving average of $14.70.

Several institutional investors and hedge funds have recently made changes to their positions in the company. NJ State Employees Deferred Compensation Plan boosted its holdings in shares of Hydrogenics by 11.1% in the 1st quarter. NJ State Employees Deferred Compensation Plan now owns 40,000 shares of the energy company’s stock worth $317,000 after acquiring an additional 4,000 shares in the last quarter. Gamco Investors INC. ET AL acquired a new position in shares of Hydrogenics in the 2nd quarter worth approximately $309,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of Hydrogenics in the 2nd quarter worth approximately $325,000. TSP Capital Management Group LLC boosted its holdings in shares of Hydrogenics by 2.3% in the 2nd quarter. TSP Capital Management Group LLC now owns 1,279,653 shares of the energy company’s stock worth $19,003,000 after acquiring an additional 29,050 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Hydrogenics in the 2nd quarter worth approximately $764,000. 10.16% of the stock is currently owned by institutional investors and hedge funds.

About Hydrogenics

Hydrogenics Corporation, together with its subsidiaries, designs, develops, and manufactures hydrogen generation products based on water electrolysis technology; and fuel cell products based on proton exchange membrane (PEM) technology. It operates through two segments, OnSite Generation and Power Systems.

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