Tecogen (TGEN) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Tecogen (NASDAQ:TGEN) from a strong sell rating to a hold rating in a report released on Wednesday morning.
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 brokerages also recently weighed in on TGEN. Maxim Group dropped their price objective on Tecogen from $6.00 to $5.00 and set a buy rating for the company in a research report on Wednesday, August 15th. HC Wainwright restated a buy rating and set a $6.00 price objective on shares of Tecogen in a research report on Wednesday, August 15th.
Tecogen (NASDAQ:TGEN) last announced its quarterly earnings data on Tuesday, August 14th. The construction company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.04). Tecogen had a negative return on equity of 1.31% and a negative net margin of 1.17%. The business had revenue of $8.45 million for the quarter, compared to the consensus estimate of $10.19 million. As a group, research analysts anticipate that Tecogen will post -0.02 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. BLB&B Advisors LLC bought a new position in Tecogen in the second quarter valued at about $103,000. Dimensional Fund Advisors LP bought a new position in Tecogen in the second quarter valued at about $178,000. Herald Investment Management Ltd raised its position in Tecogen by 52.5% in the second quarter. Herald Investment Management Ltd now owns 321,078 shares of the construction company’s stock valued at $1,159,000 after purchasing an additional 110,552 shares during the last quarter. Finally, Essex Investment Management Co. LLC raised its position in Tecogen by 447.1% in the second quarter. Essex Investment Management Co. LLC now owns 515,391 shares of the construction company’s stock valued at $1,917,000 after purchasing an additional 421,180 shares during the last quarter. Institutional investors and hedge funds own 12.80% of the company’s stock.
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.
See Also: Risk Tolerance
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