Tecogen (OTCMKTS:TGEN) Trading Down 6.3% - Should You Sell?

Key Points

• Tecogen Inc. shares fell by 6.3% to $7.43, with a trading volume increase of 22% compared to its average.
• Wall Street Zen has downgraded Tecogen from a "buy" rating to a "hold" rating as of May 1st.
• Multiple hedge funds made new acquisitions in Tecogen during the second quarter, with notable stakes such as $4.1 million from Clear Harbor Asset Management LLC.

Tecogen Inc. (OTCMKTS:TGEN - Get Free Report) shares dropped 6.3% during trading on Tuesday . The company traded as low as $7.35 and last traded at $7.43. Approximately 453,575 shares changed hands during mid-day trading, an increase of 22% from the average daily volume of 373,116 shares. The stock had previously closed at $7.93.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Tecogen from a "buy" rating to a "hold" rating in a report on Thursday, May 1st.

Tecogen Stock Down 5.2%

The firm's 50-day moving average price is $6.87 and its 200 day moving average price is $4.04. The company has a market capitalization of $231.97 million, a price-to-earnings ratio of -43.71 and a beta of 0.99. The company has a current ratio of 1.53, a quick ratio of 0.70 and a debt-to-equity ratio of 0.03.

Institutional Investors Weigh In On Tecogen

Several hedge funds and other institutional investors have recently made changes to their positions in TGEN. Shikiar Asset Management Inc. bought a new stake in shares of Tecogen during the 2nd quarter valued at approximately $150,000. PFG Investments LLC bought a new stake in shares of Tecogen during the 2nd quarter valued at approximately $425,000. Herald Investment Management Ltd bought a new stake in shares of Tecogen during the 2nd quarter valued at approximately $2,193,000. Finally, Clear Harbor Asset Management LLC bought a new stake in shares of Tecogen during the 2nd quarter valued at approximately $4,148,000.

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.