Tecogen Inc. (TGEN) Stock Price & Analysis
Tecogen Inc. (TGEN) closed at USD 2.1 on Friday, October 23, 2026, up 1.45% on the day. The US market is currently closed; this is not a live price.
The prior close was USD 2.07; the Oct 23, 2026 session ranged USD 2.01–2.53 on volume of 943,194 shares. Market capitalization is $63.39M, with a 52-week range of USD 1.94–11.07 (ASE). Source: Nexqual, retrieved October 24, 2026 at 02:19 UTC.
Also available as compact Markdown for AI agents: nexqual.com/TGEN.md
Key facts (TGEN)
- Last four reported quarters (through Jun 30, 2026): revenue $24.6M, net income -$10.4M (-42.3% margin), free cash flow -$11.8M (SEC filings).
- Insider open-market purchases, last ~7 months: 2 Form 4 filings, $29K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.00 on a 1–5 scale) (3 analysts), mean target USD 8.17 (range 7–10).
- Total return with dividends: 1Y -76.0% vs S&P 500 +13.4%; 5Y +23.5% vs S&P 500 +76.9%.
- Next earnings: 2026-11-12, EPS estimate USD -0.08, revenue estimate $6.4M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (TGEN)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $24.4M | $25.0M | $25.1M | $22.6M | $27.1M | $24.6M |
| Gross profit | $11.6M | $11.1M | $10.2M | $9.9M | $9.8M | — |
| Operating income | -$1.2M | -$2.3M | -$4.4M | -$4.5M | -$8.2M | -$10.5M |
| Net income | $3.7M | -$2.4M | -$4.6M | -$4.8M | -$8.2M | -$10.4M |
| EPS (diluted) | $0.15 | -$0.10 | -$0.19 | -$0.19 | -$0.30 | — |
| Free cash flow | $374K | -$1.7M | -$865K | $3.1M | -$10.3M | -$11.8M |
| Gross margin | 47.5% | 44.3% | 40.6% | 43.6% | 36.3% | — |
| Operating margin | -5.0% | -9.4% | -17.6% | -20.0% | -30.5% | -42.8% |
| Net margin | 15.1% | -9.8% | -18.3% | -21.0% | -30.5% | -42.3% |
| Revenue growth | -13.6% | +2.5% | +0.5% | -10.0% | +19.7% | — |
| Cash + short-term investments | $3.6M | $1.9M | $1.4M | $5.4M | $12.4M | — |
| Total debt | $0K | — | — | — | — | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (TGEN)
P/S 2.6x · P/B 3.6x · FCF yield -18.68% · Earnings yield -16.40%
Insider purchases (SEC Form 4, open-market, last ~7 months) (TGEN)
2 purchases, $29K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-04-24 | Ghoniem Ahmed | Director | 12,723 | $10K | 0.79 | Too little history (no open-market trades in 2023–2025) |
| 2026-04-13 | Hirsch Susan B | Director | 5,000 | $19K | 3.73 | Too little history (no open-market trades in 2024 or 2025) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (TGEN)
Consensus Buy (mean 2.00 on a 1–5 scale), 3 analysts; mean target USD 8.17 (low 7, high 10).
Total return (dividends reinvested) (TGEN)
| 1Y (from 2025-10-24) | 5Y (from 2021-10-25) | |
|---|---|---|
| Total return | -76.0% | +23.5% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | -76.1% | +4.3% |
| Volatility (annualized) | 101.6% | 85.5% |
| Max drawdown | -80.0% (Oct 2025→Mar 2026) | -79.1% (Oct 2025→Oct 2026) |
TGEN revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Services | $4.4M | 76.1% | +10.3% |
| Products | $1.1M | 19.7% | -64.0% |
| Energy Production | $236,111 | 4.1% | +35.4% |
| Total revenue | $5.7M | 100% | — |
TGEN revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Services | $4.4M | 76.1% | +10.3% |
| Installation Services | $4.4M | 76.1% | +10.3% |
| Products | $1.1M | 19.7% | -64.0% |
| — Chiller (part of Products) | $684,239 | 11.9% | -66.1% |
| — Cogeneration (part of Products) | $249,720 | 4.3% | -76.6% |
| — Engineered Accessories (part of Products) | $200,813 | 3.5% | +176.6% |
| Energy production | $236,111 | 4.1% | +35.4% |
| Energy Production | $236,111 | 4.1% | +35.4% |
| Total revenue | $5.7M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
TGEN suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Vertiv (VRT) | “On February 28, 2025, to effectively begin the marketing of our product solutions to co-location data centers, we signed a global partnership agreement with Vertiv Corporation ("Vertiv") for the sale and distribution of our products for data center cooling applications in the U.S. and abroad.” |
| Customer | Aegis Energy Services | “The First Amendment includes an undertaking by Aegis to use commercially reasonable efforts to support and assist our execution of maintenance service agreements for an additional thirty-six (36) cogeneration units sold to customers by Aegis.” |
| Customer | American DG Energy | “During the year ended December 31, 2025, we determined that certain of the ADGE customer contracts terminated due to the customers failure to perform their obligations pursuant to the contractual agreements and accordingly reversed $104,055” |
| Partner | American DG New York | “In addition, we own a 51% interest in American DG New York, LLC ("ADGNY"), a joint venture.” |
Quoted from the company's 10-K filed Mar 19, 2026.
TGEN customer concentration
In the period ended Dec 31, 2025, a single direct customer accounted for 15% of revenue, per the company's 10-K filed Mar 19, 2026. The company does not name it.
TGEN company outlook (results filed Aug 12, 2026)
- “Our non-data center backlog currently stands at approximately $8 million with $2 million or more in additional orders expected over the next few months.”
- “Therefore, we expect our Q3 product revenue to be higher than Q1 and Q2, and our service revenue is currently 10% higher compared to the same period last year.”
Quoted word-for-word from the SEC 8-K results press release.
TGEN analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $-0.08 | $-0.07 | +14.3% | $6.4M | 1 |
| Next quarter (ends Dec 2026) | $-0.07 | $-0.02 | +250.0% | $7.3M | 1 |
| Current fiscal year (ends Dec 2026) | $-0.29 | $-0.24 | +20.8% | $25.8M | 1 |
| Next fiscal year (ends Dec 2027) | $0.15 | $0.21 | -28.6% | $59.0M | 1 |
TGEN options: expected move
Options price a move of about ±59.6% (±$1.27) by Jan 15, 2027, which includes earnings on Nov 12, 2026. Over the last 8 reports the stock moved ±10.4% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Jan 15, 2027 | 84 | 143.2% | ±59.6% |
| May 21, 2027 | 210 | 127.7% | ±79.4% |
30-day implied volatility 132.2% vs 64.5% realized over the last 30 trading days. Put/call ratio (volume) —. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 24, 2026 at 02:19 UTC)
| Price | USD 2.1 |
|---|---|
| Change | ▲ 1.45% (up) |
| Previous Close | USD 2.07 |
| Open | USD 2.03 |
| Day Range | USD 2.01 – 2.53 |
| 52-Week Range | USD 1.94 – 11.07 |
| Volume | 943,194 shares |
| Market Cap | $63.39M |
| Exchange | ASE |
Technical Analysis (TGEN)
Nexqual's technical model rates TGEN "SELL" based on 2 bullish and 5 bearish signals across 127 daily candles, as of October 24, 2026 at 02:19 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 28.55 (oversold) |
| vs SMA50 | Below (USD 2.88) |
| MACD | -0.26 (negative) |
Analyst Ratings (TGEN)
Wall Street analysts rate TGEN "Buy" based on 3 analysts, with a mean price target of USD 8.17 (range USD 7–10), per Nexqual as of October 24, 2026 at 02:19 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 3 |
| Mean Target | USD 8.17 |
| High Target | USD 10 |
| Low Target | USD 7 |
| Buy / Hold / Sell | 3 / 0 / 0 |
Earnings (TGEN)
| Next Earnings Date | 2026-11-12 |
|---|---|
| EPS Estimate | USD -0.08 |
| Revenue Estimate | $6.41M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD -0.07 vs est -0.08 ▲ beat |
| 2025-12-31 | USD -0.1 vs est -0.1 ▲ beat |
| 2025-09-30 | USD -0.07 vs est -0.05 ▼ miss |
Source: Nexqual, October 24, 2026 at 02:19 UTC.
Financials & Fundamentals (TGEN)
| Total Revenue | $24.58M |
|---|---|
| Revenue Growth (latest quarter, YoY) | -21.20% |
| Gross Margin | +36.22% |
| Operating Margin | -37.37% |
| Profit Margin | -42.28% |
| ROE | -78.34% |
| Debt / Equity | 0.15 |
| Current Ratio | 2.93 |
| Total Cash | $6.78M |
| Total Debt | $2.62M |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | -$11.84M (-48.2% of revenue) |
Source: Nexqual, October 24, 2026 at 02:19 UTC.
Financial Health Score (TGEN)
Nexqual rates Tecogen Inc.'s overall financial health "Weak" across five dimensions, as of October 24, 2026 at 02:19 UTC.
| Growth | Critical — Revenue -21% YoY (latest Q), sharp decline |
|---|---|
| Profitability | Weak — Not yet profitable — scaling phase |
| Balance Sheet | Strong — $7M cash vs $3M debt, net cash position |
| Cash Flow | Weak — FCF negative: -$12M (last 4 quarters to Jun 2026, SEC), burning cash |
| Efficiency | Critical — ROE -78%, ROA -19.6% |
Ownership (TGEN)
| Insider Ownership | +39.57% |
|---|---|
| Institutional Ownership | +31.32% |
| Shares Outstanding | 30.19M |
| Float | 18.40M |
| Short % of Float | +4.83% |
Source: Nexqual, October 24, 2026 at 02:19 UTC.
Leadership (TGEN)
Tecogen Inc. is led by Abinand Rangesh, CEO & Director, per Nexqual as of October 24, 2026 at 02:19 UTC.
| CEO & Director | Abinand Rangesh |
|---|---|
| President & COO | Robert A. Panora |
| CFO, Treasurer & Chief Accounting Officer | Roger P. Deschenes |
| Vice President of Business Development | Stephen Lafaille |
Major Backers & Investors (TGEN)
Notable institutional backers of Tecogen Inc. include Portolan Capital Management, LLC, Fidelity, Bard Associates Inc., according to Nexqual as of October 24, 2026 at 02:19 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Portolan Capital Management, LLC | 6.21% |
| Fidelity | 3.64% |
| Bard Associates Inc. | 2.73% |
| Clear Harbor Asset Management, LLC | 2.6% |
| Gratia Capital, LLC | 1.56% |
| UBS Group AG | 1.45% |
| Meros Investment Management, Lp | 1.41% |
| Palisades Investment Partners, LLC | 1.29% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 3.16% |
Source: Nexqual, October 24, 2026 at 02:19 UTC.
From Tecogen Inc.'s Latest SEC 10-K Filing (filed 2026-03-19)
Key Strengths & Strategy (as disclosed to the SEC)
- In March 2024, the US Patent and Trademark Office granted patent 11,936,327: "Hybrid Power System With Electric Generator and Auxiliary Power Source." We have no operations or customers in Russia, the Ukraine, or in the Middle East, including the recent military actions in Iran.
- The CHPInsight platform allows us to collect, analyze and manage data regarding equipment operation continuously and in real time, providing improved insight into the functionality of our CHP fleet.
- The licensed software allows us to implement such a Microgrid with minimal control devices and associated complexity and cost.
- We rely on treatment of our technology as trade secrets through confidentiality agreements, which our employees and vendors are required to sign.
Partnerships
- On May 6, 2025, our common stock began trading on the NYSE American under our current symbol "TGEN." On February 28, 2025, we entered into a Sales and Marketing Agreement with Vertiv Corporation ("Vertiv") relating to sales of Tecogen DTx chillers for data center cooling applications ("Vertiv Agreement").
- On February 28, 2025, to effectively begin the marketing of our product solutions to co-location data centers, we signed a global partnership agreement with Vertiv Corporation ("Vertiv") for the sale and distribution of our products for data center cooling applications in the U.S. and abroad.
Legal & Regulatory Risks (Item 1A, quoted)
- Our business exposes us to potential product liability claims, which are inherent in the manufacturing, marketing and sale of our products, and we may face substantial liability for damages resulting from the faulty design, manufacture, or improper use of products by end users.
- Changes in regulations applicable to our businesses may impair the profitability of our businesses, and our failure to comply with applicable laws and regulations may increase our costs, reduce our earnings or limit our growth.
- The reduction, elimination or expiration of government and economic incentives for applications of our equipment could reduce demand for our equipment and harm our business.
- We may incorporate price reductions on equipment sold to customers based on the anticipated receipt of governmental economic incentive payments and apply and collect the incentives payments. If such incentives become unavailable to us our financial condition may be adversely affected.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
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Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 24, 2026 at 02:19 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt