H.C. Wainwright Thinks Hydrogenics Corp’s Stock is Going to Recover


H.C. Wainwright analyst Amit Dayal maintained a Buy rating on Hydrogenics Corp (NASDAQ: HYGS) today and set a price target of $10. The company’s shares closed yesterday at $6, close to its 52-week low of $4.95.

According to TipRanks.com, Dayal is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -3.9% and a 38.1% success rate. Dayal covers the Consumer Goods sector, focusing on stocks such as Superconductor Technologies Inc, Pointer Telocation Ltd, and Pacific Ethanol.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Hydrogenics Corp with a $9.33 average price target, implying a 55.5% upside from current levels. In a report released yesterday, Roth Capital also maintained a Buy rating on the stock with a $9 price target.

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Based on Hydrogenics Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $1.95 million. In comparison, last year the company had a GAAP net loss of $5.74 million.

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Hydrogenics Corp. designs, develops and manufactures hydrogen generation and fuel cell products based on water electrolysis technology and proton exchange membrane technology. It operates through OnSite Generation and Power Systems segment.

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