Tecogen (TGEN) Upgraded to “Hold” by Zacks Investment Research

Tecogen (NASDAQ:TGEN) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors 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. “

TGEN has been the topic of several other reports. HC Wainwright set a $6.00 price target on shares of Tecogen and gave the company a “buy” rating in a research note on Tuesday, October 2nd. Maxim Group decreased their price objective on Tecogen from $6.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, August 15th.

Tecogen stock traded down $0.03 during mid-day trading on Wednesday, hitting $3.25. The company had a trading volume of 75 shares, compared to its average volume of 21,840. Tecogen has a 1 year low of $2.05 and a 1 year high of $4.20.

Tecogen (NASDAQ:TGEN) last announced its quarterly earnings results on Tuesday, August 14th. The construction company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.04). The company had revenue of $8.45 million during the quarter, compared to analysts’ expectations of $10.19 million. Tecogen had a negative net margin of 1.17% and a negative return on equity of 1.31%. Analysts anticipate that Tecogen will post -0.02 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. BLB&B Advisors LLC acquired a new stake in shares of Tecogen in the second quarter valued at approximately $103,000. Dimensional Fund Advisors LP acquired a new stake in shares of Tecogen in the second quarter valued at approximately $178,000. Herald Investment Management Ltd boosted its holdings in shares of 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 acquiring an additional 110,552 shares during the period. Finally, Essex Investment Management Co. LLC boosted its holdings in shares of 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 acquiring an additional 421,180 shares during the period. 12.80% of the stock is owned by institutional investors and hedge funds.

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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