In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Tecogen Inc. (NASDAQ:TGEN) reported that Tecogen Inc. has picked up 2,617,905 of common stock as of 2017-06-23.
The acquisition brings the aggregate amount owned by Tecogen Inc. to a total of 2,617,905 representing a 10.59% stake in the company.
For those not familiar with the company, Tecogen Inc. designs, manufactures, sells and maintains cogeneration products, including combined heat and power (CHP), air conditioning systems and water heaters for residential, commercial, recreational and industrial use. The Company is engaged in the business of manufacturing and supporting CHP products based on engines fueled by natural gas. The Company manufactures over three types of CHP products, such as cogeneration units that supply electricity and hot water, chillers that provide air-conditioning and hot water, and water heaters. Its commercial product line includes the InVerde, InVerde e+ and TECOGEN cogeneration units; TECOCHILL chillers; Ilios high-efficiency water heaters, and Ultera emissions control technology. Its customers include hospitals and nursing homes, hotels and motels, office and retail buildings, and military installations. Its cogeneration systems and chillers use the engine, the TecoDrive 7400 model.
A glance at Tecogen Inc. (NASDAQ:TGEN) key stats reveals a current market capitalization of $70.15 Million based on $20.04 Million shares outstanding and a price at last close of $3.50 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-01-06, Maxwell picked up 2,500 at a purchase price of $4.00. This brings their total holding to 107,269 as of the date of the filing.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an Tecogen Inc. (NASDAQ:TGEN) as things move forward to see if its progress aligns with these transactions.
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