Northland Securities Initiates Coverage on Tecogen (NYSEAMERICAN:TGEN)

Stock analysts at Northland Securities initiated coverage on shares of Tecogen (NYSEAMERICAN:TGEN) in a research report issued on Thursday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $4.50 price target on the stock. Northland Securities’ target price would indicate a potential upside of 61.87% from the stock’s current price.

Tecogen Stock Up 8.6%

Tecogen stock opened at $2.78 on Thursday. Tecogen has a twelve month low of $1.81 and a twelve month high of $12.07. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.12 and a quick ratio of 1.94.

Insiders Place Their Bets

In other news, Director Susan B. Hirsch acquired 10,000 shares of the stock in a transaction that occurred on Friday, March 27th. The shares were purchased at an average cost of $2.54 per share, for a total transaction of $25,400.00. Following the transaction, the director directly owned 260,416 shares in the company, valued at approximately $661,456.64. This represents a 3.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have acquired 33,000 shares of company stock valued at $78,400. Company insiders own 12.70% of the company’s stock.

Tecogen Company Profile

Tecogen Inc is a developer and manufacturer of commercial and industrial distributed energy equipment that uses natural gas-fueled internal combustion engine technology to produce heat and power. The company’s product suite centers on combined heat and power (CHP) systems that recover waste heat from on-site power generation to provide space and water heating and, in some configurations, cooling. Tecogen’s offerings are designed to improve on-site energy efficiency while reducing operating costs and emissions relative to separate purchases of electricity and fuel.

In addition to CHP units, Tecogen provides auxiliary equipment and services that support distributed generation installations, including heat recovery components, controls and monitoring systems, emissions reduction technologies, and aftermarket parts and maintenance.