Roth Capital Reaffirms “Buy” Rating for Tecogen (NYSEAMERICAN:TGEN)

Tecogen (NYSEAMERICAN:TGEN)‘s stock had its “buy” rating reaffirmed by equities research analysts at Roth Capital in a note issued to investors on Friday, Benzinga reports. They currently have a $10.00 target price on the stock. Roth Capital‘s price objective indicates a potential upside of 370.37% from the company’s current price.

Tecogen Stock Down 4.2%

Shares of TGEN traded down $0.09 during mid-day trading on Friday, hitting $2.13. 113,536 shares of the company’s stock were exchanged, compared to its average volume of 378,494. The company has a market cap of $64.18 million, a PE ratio of -6.80 and a beta of 2.38. Tecogen has a 52 week low of $1.50 and a 52 week high of $7.60. The company has a 50-day simple moving average of $2.51 and a 200 day simple moving average of $3.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.93 and a quick ratio of 1.46.

Tecogen (NYSEAMERICAN:TGEN) last announced its quarterly earnings data on Thursday, November 12th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. The business had revenue of $7.87 million for the quarter, compared to analyst estimates of $6.44 million. Tecogen had a negative net margin of 38.98% and a negative return on equity of 44.77%. On average, research analysts forecast that Tecogen will post -0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tecogen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gratia Capital LLC acquired a new position in shares of Tecogen during the 2nd quarter worth about $2,029,000. Aberdeen Group plc bought a new position in shares of Tecogen in the 3rd quarter valued at about $1,139,000. Heartland Advisors Inc. grew its holdings in shares of Tecogen by 107.9% in the 3rd quarter. Heartland Advisors Inc. now owns 378,500 shares of the company’s stock valued at $1,075,000 after acquiring an additional 196,400 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Tecogen by 401.5% in the first quarter. Renaissance Technologies LLC now owns 272,300 shares of the company’s stock valued at $697,000 after acquiring an additional 218,000 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in shares of Tecogen by 35.4% in the third quarter. HighTower Advisors LLC now owns 53,500 shares of the company’s stock valued at $152,000 after acquiring an additional 14,000 shares during the last quarter.

About Tecogen

Tecogen Inc. develops, manufactures, sells and services clean-energy equipment designed to improve energy efficiency and reduce emissions. The company’s products are primarily powered by natural-gas or propane-fueled engines and are used in distributed power-generation, heating and cooling applications. Its product portfolio includes combined heat and power systems, which generate electricity while capturing useful heat; natural-gas engine-driven chillers and heat pumps; and related energy systems for commercial, industrial, institutional and multifamily buildings.