Tecogen (TGEN) Downgraded to Hold at ValuEngine

Tecogen (NASDAQ:TGEN) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Saturday, ValuEngine reports.

A number of other brokerages have also weighed in on TGEN. Zacks Investment Research raised shares of Tecogen from a “hold” rating to a “buy” rating and set a $4.50 price target for the company in a report on Tuesday, April 2nd. Maxim Group reaffirmed a “buy” rating and set a $5.00 target price on shares of Tecogen in a report on Thursday, March 28th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of Tecogen in a report on Wednesday.

Shares of Tecogen stock opened at $3.46 on Friday. The company has a market capitalization of $86.44 million, a P/E ratio of -86.50 and a beta of 0.09. Tecogen has a fifty-two week low of $2.94 and a fifty-two week high of $4.20.

Tecogen (NASDAQ:TGEN) last issued its quarterly earnings results on Thursday, March 28th. The construction company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.19). The company had revenue of $9.32 million during the quarter, compared to analyst estimates of $11.51 million. Tecogen had a negative net margin of 15.91% and a negative return on equity of 3.57%. Research analysts expect that Tecogen will post 0.03 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in Tecogen by 7.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 54,549 shares of the construction company’s stock worth $198,000 after acquiring an additional 3,700 shares during the period. Charles Schwab Investment Management Inc. acquired a new stake in Tecogen during the 1st quarter worth $46,000. BlueCrest Capital Management Ltd acquired a new stake in Tecogen during the 1st quarter worth $82,000. THB Asset Management grew its holdings in Tecogen by 15.2% during the 1st quarter. THB Asset Management now owns 374,041 shares of the construction company’s stock worth $1,492,000 after acquiring an additional 49,488 shares during the period. Finally, Thomson Horstmann & Bryant Inc. acquired a new stake in Tecogen during the 4th quarter worth $1,178,000. 12.12% of the stock is owned by hedge funds and other institutional investors.

About Tecogen

Tecogen Inc designs, manufactures, and sells industrial and commercial cogeneration systems that produce combinations of electricity, hot water, and air conditioning in the United States and internationally. It operates through two segments, Products and Services and Energy Production. The company offers InVerde e+, a cogeneration product that provides electricity and hot water; TECOGEN cogeneration systems for producing hot water; TECOCHILL air-conditioning and refrigeration chillers; and water heaters under the Ilios brand name, as well as emissions control technology under Ultera brand name.

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