Tecogen Inc. (NASDAQ:TGEN) was downgraded by stock analysts at TheStreet from a “c-” rating to a “d+” rating in a note issued to investors on Friday.
Several other analysts have also recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of Tecogen in a research note on Friday. Maxim Group reaffirmed a “buy” rating and set a $6.00 price target on shares of Tecogen in a research report on Friday. Finally, Zacks Investment Research cut shares of Tecogen from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Tecogen presently has a consensus rating of “Buy” and a consensus target price of $13.81.
Shares of Tecogen (NASDAQ TGEN) opened at $2.53 on Friday. Tecogen has a 12 month low of $2.20 and a 12 month high of $4.58. The company has a current ratio of 2.51, a quick ratio of 1.86 and a debt-to-equity ratio of 0.09.
Tecogen (NASDAQ:TGEN) last announced its quarterly earnings data on Thursday, November 9th. The construction company reported $0.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.03. Tecogen had a negative net margin of 0.72% and a negative return on equity of 0.90%. The company had revenue of $8.50 million during the quarter, compared to analysts’ expectations of $9.29 million. sell-side analysts forecast that Tecogen will post -0.07 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. Gamco Investors INC. ET AL boosted its position in Tecogen by 61.3% during the 2nd quarter. Gamco Investors INC. ET AL now owns 67,760 shares of the construction company’s stock worth $226,000 after purchasing an additional 25,760 shares during the period. Vanguard Group Inc. purchased a new stake in Tecogen during the 2nd quarter worth $1,174,000. Bard Associates Inc. boosted its position in Tecogen by 0.7% during the 2nd quarter. Bard Associates Inc. now owns 579,650 shares of the construction company’s stock worth $1,930,000 after purchasing an additional 4,200 shares during the period. Finally, Clear Harbor Asset Management LLC boosted its position in Tecogen by 2.3% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 671,257 shares of the construction company’s stock worth $2,195,000 after purchasing an additional 14,959 shares during the period. 9.02% of the stock is owned by hedge funds and other institutional investors.
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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