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.

.

See today’s analyst top recommended stocks >>

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.

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.