Tecogen Inc. (NASDAQ:TGEN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, July 21st.
According to Zacks, “Tecogen Inc. designs, manufactures, sells, and services systems that produce electricity, hot water, and air conditioning for commercial installations and buildings and industrial processes. The Company’s ultra-efficient products include cogeneration modules, which provide electricity and heat, and chillers, which provide air-conditioning and optional free hot water. Its products supply electrical power or mechanical power for cooling, as well as free engine heat that gets recovered and purposefully used at customer facilities. Tecogen Inc. is based in United States. “
TGEN has been the subject of a number of other reports. Maxim Group assumed coverage on Tecogen in a report on Wednesday, June 7th. They set a “buy” rating and a $6.00 price objective for the company. Jefferies Group LLC increased their price objective on Tecogen from $33.00 to $40.00 and gave the stock a “hold” rating in a report on Thursday, June 29th. Finally, TheStreet upgraded Tecogen from a “d” rating to a “c-” rating in a report on Friday, April 21st. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $13.94.
Shares of Tecogen (NASDAQ TGEN) opened at 3.38 on Friday. Tecogen has a 52 week low of $3.04 and a 52 week high of $5.11. The company’s market cap is $67.75 million. The company has a 50 day moving average price of $3.33 and a 200 day moving average price of $3.67.
Tecogen (NASDAQ:TGEN) last posted its quarterly earnings data on Thursday, May 11th. The construction company reported $0.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.02. The business had revenue of $6.85 million during the quarter, compared to the consensus estimate of $7.13 million. Tecogen had a negative return on equity of 1.15% and a negative net margin of 0.60%. On average, equities analysts expect that Tecogen will post ($0.01) earnings per share for the current year.
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An institutional investor recently raised its position in Tecogen stock. Gamco Investors INC. ET AL increased its position in shares of Tecogen Inc. (NASDAQ:TGEN) by 61.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,760 shares of the construction company’s stock after buying an additional 25,760 shares during the period. Gamco Investors INC. ET AL owned 0.34% of Tecogen worth $226,000 as of its most recent SEC filing. 8.26% of the stock is owned by hedge funds and other institutional investors.
Tecogen Company Profile
Tecogen Inc designs, manufactures, sells and maintains cogeneration products, including combined heat and power (CHP), air conditioning systems and water heaters for residential, commercial, recreational and industrial use. The Company is engaged in the business of manufacturing and supporting CHP products based on engines fueled by natural gas.
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