H.C. Wainwright Sticks to Their Buy Rating for Tecogen (TGEN)

By Jason Carr

H.C. Wainwright analyst Amit Dayal maintained a Buy rating on Tecogen (NASDAQ: TGEN) today and set a price target of $6. The company’s shares closed yesterday at $3.40.

Dayal wrote:

“Our $6.00 price target for the company is derived using a DCF analysis. We are largely maintaining our 3Q18 and 4Q18 revenue estimates. For our analysis, we have projected total revenues to increase from an estimated $40.9M in 2018 to $102.4M in 2023, growing at a five-year CAGR of 20.2%.”

According to TipRanks.com, Dayal ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -6.9% and a 34.9% success rate. Dayal covers the Consumer Goods sector, focusing on stocks such as Superconductor Technologies Inc, Pointer Telocation Ltd, and Pacific Ethanol.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Tecogen with a $5.50 average price target, a 61.8% upside from current levels. In a report released yesterday, Maxim Group also reiterated a Buy rating on the stock with a $5 price target.


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Based on Tecogen’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $754.4K. In comparison, last year the company had a GAAP net loss of $293.5K.

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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.