Tecogen (OTCMKTS:TGEN) Stock Price Down 5.6% – Here’s Why

Tecogen Inc. (OTCMKTS:TGEN)’s stock price fell 5.6% during mid-day trading on Wednesday . The company traded as low as $4.87 and last traded at $4.93. Approximately 199,186 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 489,790 shares. The stock had previously closed at $5.22.

Wall Street Analysts Forecast Growth

Separately, Northland Securities set a $7.50 price target on Tecogen in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.25.

Tecogen Stock Down 5.6%

The company has a debt-to-equity ratio of 0.03, a current ratio of 1.53 and a quick ratio of 0.70. The firm has a market capitalization of $147.50 million, a P/E ratio of -23.48 and a beta of 2.09. The business has a 50 day moving average price of $5.47 and a 200 day moving average price of $4.44.

Institutional Trading of Tecogen

Several hedge funds and other institutional investors have recently bought and sold shares of TGEN. Two Sigma Investments LP acquired a new position in shares of Tecogen during the third quarter valued at about $2,173,000. Marshall Wace LLP raised its holdings in Tecogen by 483.3% in the 4th quarter. Marshall Wace LLP now owns 286,325 shares of the company’s stock valued at $1,414,000 after acquiring an additional 237,236 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Tecogen by 401.5% in the 1st quarter. Renaissance Technologies LLC now owns 272,300 shares of the company’s stock worth $697,000 after acquiring an additional 218,000 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Tecogen during the 3rd quarter worth approximately $1,391,000. Finally, Apis Capital Advisors LLC bought a new stake in shares of Tecogen during the third quarter valued at approximately $1,348,000.

About Tecogen

Tecogen Inc designs, manufactures and sells on?site power generation and combined heat and power (CHP) systems for commercial, industrial and institutional markets. The company’s natural gas–fueled cogeneration units produce electricity while capturing and reusing waste heat for space and water heating, providing enhanced energy efficiency over traditional utility?supplied electrical systems. Tecogen’s portfolio also includes ultra?low NOx emission technologies, absorption chillers and ancillary equipment tailored to meet the specific demands of manufacturing facilities, hospitals, universities and other energy?intensive customers.

Central to Tecogen’s product lineup is its InVerde e+ series of cogeneration modules, which integrate internally developed low?emission combustion systems with advanced controls to optimize performance and reliability.