Tecogen Inc. (TGEN)

Tecogen's stock experienced a downward trend of 40.23% in the past six months, influenced by the Q3 2025 earnings report showing increased net loss and decreased gross margins. Prior to this, the stock had seen substantial growth, trending up by 78.87%, driven by the uplisting to the NYSE American LLC stock exchange and a 54.3% year-over-year revenue increase reported in Q2 2025. The company also completed an $18.2 million capital raise in July 2025 and gained traction in the data center market.

Demand seasonality for Tecogen's products and services is influenced by the nature of its offerings, particularly heating and cooling solutions. Demand for heating-related products and services is likely higher during colder months, while demand for cooling solutions increases during warmer periods. The company's focus on data center cooling also suggests a consistent demand for its chiller products, though the intensity might fluctuate with data center expansion cycles and energy pricing.

Tecogen, Inc. designs, manufactures, markets, and maintains clean energy systems, focusing on cogeneration products. The company operates within the Capital Goods sector, specifically in the Building Products and Electrical Components & Equipment industries, providing efficient cogeneration and chiller products to commercial, industrial, and institutional customers. Tecogen offers InVerde e+ and TecoPower cogeneration units, Tecochill air-conditioning and refrigeration chillers, Tecofrost refrigeration compressors, Ultera emissions control technology, and Ilios gas heat pumps and water heaters. These products serve a diverse range of clients, including hospitals, schools, hotels, office buildings, food processors, residential buildings, laundries, ice rinks, factories, municipal buildings, and data centers.

Tecogen, Inc. primarily operates in the United States and has an established network of engineering, sales, and service personnel across North America.

Tecogen maintains a positive brand reputation as a leading manufacturer of clean energy products, known for its cost-efficient, environmentally friendly, and reliable products. The company has garnered positive attention for its focus on the data center cooling market, with its hybrid gas/electric chillers being highlighted as a solution for power-constrained data centers. The company's stock performance, which surged significantly over the past year due to "AI/data center cooling hype," further indicates a favorable market perception in this area.

Tecogen Inc. has a mixed ownership structure, with institutional, insider, and retail investors holding shares. Major institutional owners include Vanguard Group Inc., Bard Associates Inc., Clear Harbor Asset Management LLC, Portolan Capital Management LLC, and Herald Investment Management Ltd. Major individual owners include Ann Marie Brown Pacheco, George N. Hatsopoulos, Yiannis Monovoukas, Earl R. Lewis, and John Hatsopoulos.