H.C. Wainwright Reaffirms Their Buy Rating on Tecogen (TGEN)

By Ryan Adsit

In a report released today, Amit Dayal from H.C. Wainwright maintained a Buy rating on Tecogen (TGENResearch Report), with a price target of $6. The company’s shares closed last Monday at $2.60, close to its 52-week low of $2.46.

Dayal said:

“We believe investors should expect margins to normalize to the targeted range of 35.0-40.0% in future periods. Total operating expenses for the quarter were $3.8M, same as in the year ago period. The company generated a net loss of $0.4M for the quarter or $0.01 per share, compared to a loss of $0.8M, or $0.03 per share in 2Q18. Tecogen ended the quarter with around $1.1M in cash and no debt.”

According to TipRanks.com, Dayal is a 4-star analyst with an average return of 4.1% and a 44.1% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Advanced Emissions Solutions, Inc., Ballard Power Systems, and Orion Energy Systems.

Currently, the analyst consensus on Tecogen is a Moderate Buy with an average price target of $6.

See today’s analyst top recommended stocks >>

Based on Tecogen’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $3.28 million. In comparison, last year the company had a GAAP net loss of $754.4K.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Tecogen, Inc. engages in the design, manufacture, marketing, and maintenance of cogeneration and combined heat and power products. It operates through the Products and Services; and Energy Production segments. The Products and Services segment designs, manufactures, and retails industrial and commercial cogeneration systems.