Tigo Energy (NASDAQ:TYGO) Rating Lowered to Neutral at Roth Capital

Tigo Energy (NASDAQ:TYGO) was downgraded by research analysts at Roth Capital from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. They currently have a $1.30 price objective on the stock. Roth Capital’s price objective suggests a potential upside of 4.00% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Northland Securities set a $6.40 price target on shares of Tigo Energy in a research report on Thursday, May 7th. Weiss Ratings raised Tigo Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Wall Street Zen lowered Tigo Energy from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, HC Wainwright dropped their price target on Tigo Energy from $6.00 to $3.50 and set a “buy” rating for the company in a report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.73.

Tigo Energy Stock Up 5.9%

Shares of TYGO opened at $1.25 on Wednesday. The company has a quick ratio of 1.90, a current ratio of 3.04 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $2.18 and a two-hundred day moving average price of $3.28. The stock has a market cap of $94.89 million, a price-to-earnings ratio of 8.93 and a beta of 1.32. Tigo Energy has a 12 month low of $0.93 and a 12 month high of $5.33.

Tigo Energy (NASDAQ:TYGO) last posted its earnings results on Tuesday, August 4th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. Tigo Energy had a negative return on equity of 1.74% and a net margin of 8.97%.The business had revenue of $25.41 million during the quarter, compared to the consensus estimate of $30.82 million. Equities analysts predict that Tigo Energy will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling at Tigo Energy

In other news, Director Sagit Manor sold 63,500 shares of Tigo Energy stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $2.85, for a total transaction of $180,975.00. Following the completion of the sale, the director owned 323,098 shares in the company, valued at $920,829.30. The trade was a 16.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Zvi Alon sold 72,057 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $3.42, for a total transaction of $246,434.94. Following the completion of the transaction, the chief executive officer directly owned 1,239,316 shares in the company, valued at approximately $4,238,460.72. The trade was a 5.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 463,444 shares of company stock worth $1,631,333 in the last 90 days. Corporate insiders own 26.60% of the company’s stock.

Hedge Funds Weigh In On Tigo Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Tigo Energy during the 2nd quarter worth about $5,044,000. Deutsche Bank AG bought a new stake in Tigo Energy in the second quarter valued at approximately $91,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Tigo Energy in the second quarter worth $325,000. AIGH Capital Management LLC acquired a new stake in Tigo Energy in the second quarter worth $4,638,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Tigo Energy during the second quarter worth $227,000. 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.