Stupefying Stock: Tecogen Inc. (NASDAQ: TGEN)

Tecogen Inc. (NASDAQ: TGEN) stock observed trading -49.99% off 52-week high price. On the other end, the stock has been noted 3.45% away from low price over the last 52-weeks. The stock disclosed a move of -7.08% away from 50 day moving average and -29.23% away from 200 day moving average. Moving closer, we can see that shares have been trading -3.16% off 20-day moving average.

Tecogen Inc. (TGEN) stated revenues of $8,670,477 for the quarter ended September 30, 2019 contrast to $7,938,684 for the same period in 2018, a 9% increase in top line revenue. Consolidated gross profit for the third quarter of 2019 was $2,831,241 contrast to $2,883,098 in the third quarter of 2018, a 2% decrease in overall gross profit year over year. Loss from operations for the third quarter of 2019 was $538,183, contrast to $562,312 for the same period in 2018, an improvement of $24,129 year over year. Net loss attributable to the Company was $586,249 for the third quarter of 2019, contrast to $603,037 for the same period in 2018, an improvement of $16,788, or 3% year over year.

“I am very happy with the growth in top line revenues for the third quarter,” noted Benjamin Locke, Tecogen CEO. “We are steadily growing our chiller sales, which surpassed cogeneration sales for the first time this quarter. We expect chiller sales to continue to be strong, and we expect Tecofrost sales to contribute more to our product revenues next year. While we are disdesignated in our lower than usual margins in the quarter, we believe they will return to our historic margins going forward. We have also made important progress towards an order in excess of 3 megawatts of Inverde cogeneration equipment, which we now have included in our backlog with shipments predictable in the first three quarters of 2020. We are shifting away from large turnkey installations which have lower margins, and instead are focusing on product sales, engineered accessories, and engineering support for some cogeneration projects. As a result we have removed $8M of installation revenues from the backlog, but have added additional product and engineered accessories sales, bringing our backlog as of November 8, 2019, to a healthy $23M.”

The USA based company Tecogen Inc. moved with change of 0.00% to $2.1 with the total traded volume of 8089 shares in recent session versus to an average volume of 17.2K. TGEN’s shares are at -22.22% for the quarter and driving a -44.15% return over the course of the past year and is now at -0.94% since this point in 2018.  Right now the stock beta is 0.1. The average volatility for the week and month was at 3.96% and 5.58% respectively. There are 25.19M shares outstanding and 13.27M shares are floated in market.