Maxim Group Reiterates a Buy Rating on Tecogen (TGEN)

By Ryan Adsit

Maxim Group analyst James Jang reiterated a Buy rating on Tecogen (TGENResearch Report) today and set a price target of $5. The company’s shares opened today at $3.81.

Jang noted:

“Tecogen (TGEN) reported 4Q18 results which were mixed as revenues missed expectations, but were offset by lower operating expenses, improving gross margins by 300bps y/y.”

According to TipRanks.com, Jang is a 3-star analyst with an average return of 3.9% and a 42.9% success rate. Jang covers the Services sector, focusing on stocks such as Sino-Global Shipping America, Eagle Bulk Shipping Inc, and Nordic American Tanker.

Currently, the analyst consensus on Tecogen is a Moderate Buy with an average price target of $5.50.

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The company has a one-year high of $4.20 and a one-year low of $2.79. Currently, Tecogen has an average volume of 33.32K.

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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.