Tecogen Gets a Buy Rating from Maxim Group

By Austin Angelo

In a report released today, James Jang from Maxim Group reiterated a Buy rating on Tecogen (NASDAQ: TGEN), with a price target of $6. The company’s shares closed yesterday at $2.77, close to its 52-week low of $2.75.

Jang noted:

“Tecogen reported another healthy quarter with EPS of $0.00, in-line with our expectations and higher than the consensus estimate of a loss of ($0.03) per share. The company reported stronger than expected revenues of $8.5 million, above our forecast of $8.2 million, and consensus of $7.5 million.”

According to TipRanks.com, Jang is a 3-star analyst with an average return of 5.8% and a 45.1% success rate. Jang covers the Services sector, focusing on stocks such as Dynagas LNG Partners LP , Nordic American Tanker, and Eagle Bulk Shipping.

Currently, the analyst consensus on Tecogen is Moderate Buy and the average price target is $6, representing an 116.6% upside.

In a report released today, H.C. Wainwright also assigned a Buy rating to the stock with a $6 price target.

Tecogen’s market cap is currently $68.45M and has a P/E ratio of 1154.17. The company has a book value ratio of 2.0911.

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Tecogen, Inc. engages in the design, manufacture, marketing, and maintenance of cogeneration and combined heat and power products. The firm offers its products under the InVerde, TECOCHILL and Ilios brands. The company was founded by George N. Hatsopoulos and John N. Hatsopoulos on September 15, 2000 and is headquartered in Waltham, MA.