Renaissance Technologies LLC Buys 218,000 Shares of Tecogen Inc. $TGEN

Renaissance Technologies LLC lifted its position in Tecogen Inc. (OTCMKTS:TGEN) by 401.5% during the 1st quarter, Holdings Channel reports. The firm owned 272,300 shares of the company’s stock after buying an additional 218,000 shares during the quarter. Renaissance Technologies LLC’s holdings in Tecogen were worth $697,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of America Corp DE grew its position in Tecogen by 4,069.0% during the 3rd quarter. Bank of America Corp DE now owns 4,836 shares of the company’s stock worth $43,000 after acquiring an additional 4,720 shares during the last quarter. Citizens Financial Group Inc. RI acquired a new stake in Tecogen during the 1st quarter valued at $26,000. NewEdge Advisors LLC bought a new position in Tecogen in the 3rd quarter valued at $91,000. Dimensional Fund Advisors LP bought a new position in Tecogen in the 1st quarter valued at $29,000. Finally, Commonwealth Equity Services LLC bought a new position in Tecogen in the 4th quarter valued at $58,000.

Tecogen Stock Performance

TGEN opened at $3.65 on Monday. Tecogen Inc. has a 1-year low of $1.94 and a 1-year high of $12.07. The stock has a market capitalization of $109.20 million, a PE ratio of -17.38 and a beta of 2.15. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $4.43 and a two-hundred day moving average price of $4.17.

Wall Street Analyst Weigh In

Separately, Northland Securities set a $7.50 price objective on Tecogen in a research note on Friday, May 15th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $11.25.

Tecogen Company Profile

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.