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

Zacks Investment Research lowered shares of Tecogen (NASDAQ:TGEN) from a hold rating to a sell rating in a research report sent to investors on Friday morning, 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. “

TGEN stock opened at $1.20 on Friday. The company has a quick ratio of 1.53, a current ratio of 2.15 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $29.86 million, a price-to-earnings ratio of -11.80 and a beta of 0.65. Tecogen has a 12 month low of $0.60 and a 12 month high of $2.75. The firm has a 50 day moving average of $0.94 and a two-hundred day moving average of $0.86.

Tecogen (NASDAQ:TGEN) last posted its earnings results on Thursday, August 13th. The construction company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.01). The business had revenue of $7.44 million during the quarter, compared to the consensus estimate of $7.89 million. Tecogen had a negative return on equity of 11.23% and a negative net margin of 7.92%. On average, research analysts expect that Tecogen will post -0.11 EPS for the current fiscal year.

A hedge fund recently raised its stake in Tecogen stock. Financial Counselors Inc. lifted its position in Tecogen Inc. (NASDAQ:TGEN) by 50.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,000 shares of the construction company’s stock after buying an additional 16,000 shares during the quarter. Financial Counselors Inc. owned about 0.19% of Tecogen worth $34,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 14.39% of the company’s stock.

Tecogen Company Profile

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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