Tecogen Inc. (NASDAQ:TGEN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

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. “

Other research analysts have also issued reports about the stock. HC Wainwright set a $6.00 target price on shares of Tecogen and gave the stock a “buy” rating in a research note on Tuesday, August 15th. Maxim Group set a $6.00 target price on shares of Tecogen and gave the stock a “buy” rating in a research note on Monday, August 14th. Finally, Jefferies Group LLC raised their target price on shares of Tecogen from $33.00 to $40.00 and gave the stock a “hold” rating in a research note on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Tecogen presently has an average rating of “Hold” and a consensus target price of $13.94.

Tecogen (NASDAQ TGEN) traded down 1.59% during midday trading on Wednesday, hitting $3.10. The company had a trading volume of 9,258 shares. Tecogen has a 1-year low of $2.95 and a 1-year high of $4.80. The firm’s market capitalization is $76.62 million. The company has a 50 day moving average price of $3.17 and a 200 day moving average price of $3.42.

Tecogen (NASDAQ:TGEN) last issued its quarterly earnings results on Monday, August 14th. The construction company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. Tecogen had a negative net margin of 0.13% and a negative return on equity of 0.18%. The firm had revenue of $7.59 million for the quarter, compared to analyst estimates of $7.46 million. Equities research analysts forecast that Tecogen will post ($0.01) earnings per share for the current fiscal year.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bard Associates Inc. lifted its stake in Tecogen by 0.7% in 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 in the last quarter. Clear Harbor Asset Management LLC lifted its stake in Tecogen by 2.3% in 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 in the last quarter. Gamco Investors INC. ET AL lifted its stake in Tecogen by 61.3% in 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 in the last quarter. Finally, Vanguard Group Inc. purchased a new position in Tecogen in the 2nd quarter worth approximately $1,174,000. 9.06% of the stock is currently owned by institutional investors and hedge funds.

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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