HC Wainwright Analysts Give Tecogen Inc. (TGEN) a $6.00 Price Target
Tecogen Inc. (NASDAQ:TGEN) received a $6.00 price objective from equities researchers at HC Wainwright in a report released on Thursday. The brokerage currently has a “buy” rating on the construction company’s stock. HC Wainwright’s price objective would indicate a potential upside of 100.00% from the company’s previous close.
TGEN has been the topic of several other research reports. Zacks Investment Research downgraded Tecogen from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Jefferies Group LLC upped their price target on Tecogen from $33.00 to $40.00 and gave the stock a “hold” rating in a report on Thursday, June 29th. Finally, Maxim Group set a $6.00 price target on Tecogen and gave the stock a “buy” rating in a report on Monday, August 14th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Tecogen presently has an average rating of “Buy” and an average price target of $13.81.
Shares of Tecogen (TGEN) traded up 1.69% during midday trading on Thursday, reaching $3.00. The company had a trading volume of 28,550 shares. The company’s 50 day moving average price is $3.16 and its 200-day moving average price is $3.38. The company’s market capitalization is $74.15 million. Tecogen has a 52 week low of $2.90 and a 52 week high of $4.80.
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, topping 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 for the quarter, compared to the consensus estimate of $7.46 million. On average, equities research analysts predict that Tecogen will post ($0.01) earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in TGEN. Vanguard Group Inc. acquired a new position in shares of Tecogen during the 2nd quarter worth about $1,174,000. Gamco Investors INC. ET AL boosted its position 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 in the last quarter. Clear Harbor Asset Management LLC boosted its position 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 in the last quarter. Finally, Bard Associates Inc. boosted its position 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 in the last quarter. 9.06% of the stock is 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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