Hydrogenics: Shares Continue to Rise

Hydrogenics Corp. (HYGS) shares continue to rise following last week's announcement that a hydrogen fueling station that was opened by Shell Oil (RDS.A) in Los Angeles last week built by Hydrogenics.

On Wednesday morning, shares in Hydrogenics were up almost 30% to C$2.37. Since June 13, when shares closed at C$0.79, the stock has risen everyday but one. 

Paradigm Capital analyst J. Marvin Wolff said it is somewhat odd that the stock would be so active on week-old news, especially given the new Los Angeles fuelling station isn't the first hydrogen station that Hydrogenics has supplied.

he said:

You're seeing alternative fuel technology getting a lot of attention in California these days so maybe investors are simply just excited to include [Hydrogenics] in their portfolio.  It's certainly strong buying for no new news out.

Comments

[sozzle:]

I've been holding this stock for a while, mostly because I like the business. I too was wondering about the surge. Big price jumps in short periods make me nervous. The term "irrational exhuberance" comes to mind.

2008 Jul 03 08:47 AM

[mixter:]

Nuclear electrical generating plants could produce a lot of hydrogen in the off peak demand hours, with almost no additional operating cost. Too bad the "greenie weenies" have killed the prospects of building these plants anytime soon. This pollution free fuel surely would help improve air quality, while satisfying the dunces that believe that man causes global warming. Al Gore, et al, have ego problems with regard to man's powers. Mother Nature rules this planet!

2008 Jul 03 09:12 AM

[macdtheknife:]

I've been watching this stock for since 2001. There is nothing odd about the run-up. HYGS got some exposure on the yahoo Bullish Section and started to move-up. Stock filters saw the move and brought in more buyers. Additionally there was more mention of Hydrogen than I have ever seen in the media. What I think is Odd is the beating and bashing that this stock has taken and The downgrading of a still well undervalued stock.

2008 Jul 03 09:28 AM

[CPST1:]

1 hydrogen pump and few if any hydrogen powered vehicles hardly equals a run up in value.

The benchmark for this company was to develop and install the PEI (Prince Edward Island) installation, which in the end was left undone. This was a tremendously forward thinking power grid incorporating wind and hydro that likely was deemed to be too different, or that it was to radical a change.
hydrogenics.com/hyg.pr...

This is a good news stock or news with a view. A thousand shares at a $1.30 and hang on...

2008 Jul 03 09:39 AM

[Stockguy456:]

why is it down 15% today?

2008 Jul 03 11:13 AM

[macdtheknife:]

It's only down this morning... We'll have to see about today.
and probably because of this downgrade.

2008 Jul 03 11:33 AM

[wholesalecd:]

i sold at 2.15....I knew this stock would tumble faster than it rose. I plan to buy back at 1.25 or maybe lower.

2008 Jul 03 12:46 PM

[wholesalecd:]

HYGS ain't going anywhere though. They have millions in backorders and getting more and more orders everyday. hydrogen isn't just for cars, there is also a commercial demand that's growing dramatically

2008 Jul 03 12:48 PM

[samb:]

I think people are bailing on this for the weekend, hope it kicks back into action on monday.

2008 Jul 03 02:01 PM

[smp:]

I think Paradigm Capital analyst J. Marvin Wolff and seekingalpha.com need to [deleted for offensive language] keep their opinions to themselves. Why go negative on a stock that probably deserves a good run-up after 1 year of little to no action? Unless of course their shorting it. Hmmm?

2008 Jul 09 08:31 AM

[TRC:]

I have been looking for a hydrogen stock to buy in light of the sky high oil prices, and to Me Hydrogenics has their act together, with both GM and Toyota seriously looking at this company. Hydrogen is the only true option to our oil issues.

2008 Jul 11 03:41 PM

[samb:]

Big show in Washington DC today for hydrogen cars, Hope to see hygs go up after today.

2008 Aug 14 02:11 PM