Hydrogenics (HYGS) Reports Mixed 3Q Results; Roth Capital Reiterates Buy

Roth Capital reiterated a Buy rating on Hydrogenics (NASDAQ: HYGS), and raised the price target to $11.50 (from $11.00), following the company's 3Q earnings report. Q3 revenues were $9.6mn vs. consensus of $11.1mn. EPS was -22c vs. consensus of -20c. Analyst Matt Koranda believes that investors should focus on the several large opportunities that are in the pipeline that could impact 2016/2017 revenue materially.

Koranda commented, "We expect HYGS to begin closing a portion of the 2016 revenue opportunities that management highlighted on the Q3 call. First, we believe HYGS is telegraphing potential China bus wins and expect details forthcoming as management is joining a Canadian trade mission to China in the coming days. Second, commercial operation on the 1MW project with Kolon makes followon POs likely in the coming months, in our view. Reiterate Buy."

For an analyst ratings summary and ratings history on Hydrogenics click here. For more ratings news on Hydrogenics click here.

Shares of Hydrogenics closed at $10.07 yesterday.

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