Tecogen Inc. (TGEN) Given Average Recommendation of “Buy” by Brokerages
Shares of Tecogen Inc. (NASDAQ:TGEN) have received an average rating of “Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $14.50.
A number of equities analysts have recently weighed in on TGEN shares. Zacks Investment Research raised Tecogen from a “hold” rating to a “buy” rating and set a $3.75 target price on the stock in a research report on Wednesday, July 19th. Maxim Group began coverage on Tecogen in a research report on Wednesday, June 7th. They issued a “buy” rating and a $6.00 price target for the company. Jefferies Group LLC increased their price target on Tecogen from $33.00 to $40.00 and gave the company a “hold” rating in a research report on Thursday, June 29th. Finally, HC Wainwright set a $6.00 price target on Tecogen and gave the company a “buy” rating in a research report on Tuesday, August 15th.
Institutional investors have recently made changes to their positions in the company. Bard Associates Inc. grew its stake in shares of 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 acquiring an additional 4,200 shares during the period. Clear Harbor Asset Management LLC grew its stake in shares of 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 acquiring an additional 14,959 shares during the period. Gamco Investors INC. ET AL grew its stake in shares of 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 acquiring an additional 25,760 shares during the period. Finally, Vanguard Group Inc. bought a new position in shares of Tecogen during the 2nd quarter worth $1,174,000. 9.06% of the stock is owned by hedge funds and other institutional investors.
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Shares of Tecogen (TGEN) opened at 3.37 on Friday. The firm’s 50-day moving average is $3.24 and its 200 day moving average is $3.51. Tecogen has a one year low of $2.95 and a one year high of $4.87. The firm’s market capitalization is $83.29 million.
Tecogen (NASDAQ:TGEN) last issued its earnings results on Monday, August 14th. The construction company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. Tecogen had a negative return on equity of 0.18% and a negative net margin of 0.13%. The company had revenue of $7.59 million for the quarter, compared to analyst estimates of $7.46 million. Equities research analysts predict that Tecogen will post ($0.01) earnings per share for the current year.
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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