Tigo Energy (NASDAQ:TYGO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Tigo Energy (NASDAQ:TYGO) from a hold rating to a buy rating in a report released on Saturday.

Tigo Energy Trading Up 10.4%

Tigo Energy stock opened at $3.72 on Friday. Tigo Energy has a 12 month low of $0.58 and a 12 month high of $4.50. The company has a market capitalization of $262.41 million, a price-to-earnings ratio of -74.39 and a beta of 1.19. The business’s fifty day simple moving average is $2.99 and its two-hundred day simple moving average is $2.31.

Tigo Energy (NASDAQ:TYGO) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.20. The firm had revenue of $30.03 million during the quarter, compared to the consensus estimate of $30.02 million. Tigo Energy had a negative return on equity of 263.41% and a negative net margin of 1.82%. On average, equities research analysts predict that Tigo Energy will post -0.43 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hillsdale Investment Management Inc. purchased a new stake in Tigo Energy during the 3rd quarter valued at $443,000. State Street Corp purchased a new position in shares of Tigo Energy in the fourth quarter worth $165,000. Quadrature Capital Ltd lifted its holdings in shares of Tigo Energy by 148.1% during the fourth quarter. Quadrature Capital Ltd now owns 77,187 shares of the company’s stock valued at $107,000 after purchasing an additional 46,074 shares in the last quarter. Bridgeway Capital Management LLC purchased a new stake in shares of Tigo Energy during the fourth quarter valued at $97,000. Finally, NewEdge Advisors LLC boosted its position in shares of Tigo Energy by 137.7% during the third quarter. NewEdge Advisors LLC now owns 36,162 shares of the company’s stock valued at $90,000 after buying an additional 20,950 shares during the last quarter. Institutional investors own 15.72% of the company’s stock.

About Tigo Energy

Tigo Energy, Inc (NASDAQ: TYGO) is a U.S.-based provider of module-level power electronics (MLPE) solutions designed to optimize the performance and safety of solar photovoltaic systems. Founded in 2007 and headquartered in Campbell, California, Tigo Energy develops hardware and software tools that enhance energy yield, improve system reliability, and streamline compliance with electrical codes. The company’s technology platform is used by solar installers, project developers, and module manufacturers to deliver higher returns on investment and bolster the safety profile of PV arrays.

At the core of Tigo’s offerings is its TS4 platform, a modular MLPE solution that enables real-time monitoring, rapid shutdown functionality, and maximum power point tracking at the panel level.