Zacks Investment Research Downgrades Tecogen (NASDAQ:TGEN) to Strong Sell

Tecogen (NASDAQ:TGEN) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

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. “

Other research analysts have also recently issued reports about the company. TheStreet cut Tecogen from a “c-” rating to a “d+” rating in a report on Friday, August 9th. ValuEngine cut Tecogen from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Tecogen currently has an average rating of “Hold” and a consensus target price of $5.17.

TGEN traded down $0.02 during trading hours on Thursday, reaching $2.18. The company’s stock had a trading volume of 4,000 shares, compared to its average volume of 14,498. Tecogen has a fifty-two week low of $2.11 and a fifty-two week high of $4.20. The stock has a market cap of $55.65 million, a PE ratio of -54.50 and a beta of 0.18. The business’s 50-day moving average is $2.47 and its 200-day moving average is $3.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.30 and a quick ratio of 1.80.

Tecogen (NASDAQ:TGEN) last released its quarterly earnings data on Tuesday, November 12th. The construction company reported ($0.02) EPS for the quarter. Tecogen had a negative net margin of 25.26% and a negative return on equity of 4.58%. The business had revenue of $8.67 million during the quarter, compared to analyst estimates of $10.52 million. Analysts expect that Tecogen will post -0.05 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in TGEN. BlackRock Inc. lifted its stake in Tecogen by 14.1% during the second quarter. BlackRock Inc. now owns 58,371 shares of the construction company’s stock worth $219,000 after purchasing an additional 7,222 shares in the last quarter. Clear Harbor Asset Management LLC lifted its stake in Tecogen by 3.5% during the third quarter. Clear Harbor Asset Management LLC now owns 607,382 shares of the construction company’s stock worth $1,446,000 after purchasing an additional 20,652 shares in the last quarter. Vanguard Group Inc. lifted its stake in Tecogen by 3.2% during the second quarter. Vanguard Group Inc. now owns 437,659 shares of the construction company’s stock worth $1,642,000 after purchasing an additional 13,440 shares in the last quarter. Finally, River & Mercantile Asset Management LLP acquired a new position in Tecogen during the second quarter worth $2,030,000. Institutional investors own 16.33% of the company’s stock.

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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