Tecogen (OTCMKTS:TGEN) Shares Up 8.1% – Here’s What Happened

Tecogen Inc. (OTCMKTS:TGEN) shares shot up 8.1% during trading on Wednesday . The company traded as high as $7.38 and last traded at $7.17. 699,407 shares changed hands during mid-day trading, an increase of 50% from the average session volume of 467,803 shares. The stock had previously closed at $6.63.

Analyst Ratings Changes

A number of research firms recently issued reports on TGEN. Zacks Research upgraded Tecogen to a “hold” rating in a research note on Tuesday, August 19th. Roth Capital began coverage on Tecogen in a research note on Monday, August 18th. They set a “buy” rating and a $15.00 price target on the stock. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Tecogen presently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

Tecogen Stock Performance

The stock has a 50-day simple moving average of $8.04 and a 200-day simple moving average of $5.11. 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 stock has a market cap of $212.88 million, a PE ratio of -34.14 and a beta of 1.05.

Institutional Investors Weigh In On Tecogen

Institutional investors and hedge funds have recently modified their holdings of the stock. Shikiar Asset Management Inc. acquired a new position in shares of Tecogen in the second quarter worth about $150,000. Heron Bay Capital Management acquired a new position in shares of Tecogen in the second quarter worth about $253,000. Gendell Jeffrey L acquired a new position in shares of Tecogen in the second quarter worth about $284,000. Gamco Investors INC. ET AL acquired a new position in shares of Tecogen in the second quarter worth about $286,000. Finally, PFG Investments LLC acquired a new position in shares of Tecogen in the second quarter worth about $425,000.

Tecogen Company Profile

Tecogen Inc, together with its subsidiaries, designs, manufactures, markets, and maintains ultra-clean cogeneration products for multi-family residential, commercial, recreational, and industrial use primarily in the United States. It operates through three segments: Products, Services, and Energy Production.