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. “

Several other research firms also recently issued reports on TGEN. Maxim Group set a $6.00 price objective on Tecogen and gave the company a “buy” rating in a research note on Monday, August 14th. HC Wainwright set a $6.00 price objective on Tecogen and gave the company a “buy” rating in a research note on Tuesday, August 15th. Finally, Jefferies Group LLC upped their price objective on Tecogen from $33.00 to $40.00 and gave the company a “hold” rating in a research note on Thursday, June 29th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. Tecogen has an average rating of “Hold” and an average target price of $13.94.

Shares of Tecogen (NASDAQ TGEN) traded down 1.59% on Wednesday, hitting $3.10. 9,258 shares of the stock traded hands. The stock’s market cap is $76.62 million. Tecogen has a 1-year low of $2.95 and a 1-year high of $4.80. The stock has a 50 day moving average of $3.17 and a 200-day moving average of $3.42.

Tecogen (NASDAQ:TGEN) last released its quarterly earnings data on Monday, August 14th. The construction company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $7.46 million. On average, equities research analysts expect that Tecogen will post ($0.01) EPS for the current year.

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A number of hedge funds have recently made changes to their positions in the stock. Clear Harbor Asset Management LLC boosted its holdings in Tecogen by 2.3% in the second quarter. Clear Harbor Asset Management LLC now owns 671,257 shares of the construction company’s stock valued at $2,195,000 after acquiring an additional 14,959 shares during the last quarter. Bard Associates Inc. boosted its holdings in Tecogen by 0.7% in the second quarter. Bard Associates Inc. now owns 579,650 shares of the construction company’s stock valued at $1,930,000 after acquiring an additional 4,200 shares during the last quarter. Vanguard Group Inc. bought a new stake in Tecogen in the second quarter valued at approximately $1,174,000. Finally, Gamco Investors INC. ET AL boosted its holdings in Tecogen by 61.3% in the second quarter. Gamco Investors INC. ET AL now owns 67,760 shares of the construction company’s stock valued at $226,000 after acquiring an additional 25,760 shares during the last quarter. Institutional investors and hedge funds own 9.06% of the company’s stock.

About Tecogen

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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