Tecogen (OTCMKTS:TGEN) Shares Down 6.3% - What's Next?

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.

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Tecogen from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st.

Tecogen Stock Performance

The stock has a market cap of $187.75 million, a price-to-earnings ratio of -35.38 and a beta of 0.99. The company's 50-day simple moving average is $6.59 and its 200-day simple moving average is $3.92. The company has a quick ratio of 0.70, a current ratio of 1.53 and a debt-to-equity ratio of 0.03.

Hedge Funds Weigh In On Tecogen

A number of hedge funds have recently modified their holdings of TGEN. Shikiar Asset Management Inc. acquired a new stake in shares of Tecogen during the second quarter worth $150,000. Herald Investment Management Ltd purchased a new position in Tecogen in the 2nd quarter worth about $2,193,000. PFG Investments LLC acquired a new stake in Tecogen during the 2nd quarter worth about $425,000. Finally, Clear Harbor Asset Management LLC acquired a new stake in Tecogen during the 2nd quarter worth about $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.

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