Tecogen Inc. (NASDAQ:TGEN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

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. “

TGEN has been the subject of several other reports. HC Wainwright set a $6.00 target price on shares of Tecogen and gave the company a “buy” rating in a report on Thursday, October 19th. Jefferies Group LLC lifted their target price on shares of Tecogen from $33.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, June 29th. Finally, Maxim Group set a $6.00 target price on shares of Tecogen and gave the company a “buy” rating in a report on Monday, August 14th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Tecogen currently has an average rating of “Buy” and an average target price of $13.81.

Shares of Tecogen (NASDAQ TGEN) opened at 3.00 on Thursday. Tecogen has a one year low of $2.90 and a one year high of $4.80. The company’s market capitalization is $74.14 million. The firm’s 50-day moving average price is $3.15 and its 200-day moving average price is $3.36.

Tecogen (NASDAQ:TGEN) last released its earnings results 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 net margin of 0.13% and a negative return on equity of 0.18%. The firm had revenue of $7.59 million during the quarter, compared to analyst estimates of $7.46 million. Analysts anticipate that Tecogen will post ($0.01) earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Clear Harbor Asset Management LLC raised its holdings 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 acquiring an additional 14,959 shares during the last quarter. Bard Associates Inc. raised its holdings 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 acquiring an additional 4,200 shares during the last quarter. Vanguard Group Inc. purchased a new position in Tecogen in the 2nd quarter worth approximately $1,174,000. Finally, Gamco Investors INC. ET AL raised its holdings 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 acquiring an additional 25,760 shares during the last quarter. Institutional investors own 9.06% of the company’s stock.

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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