Tigo Energy (NASDAQ:TYGO) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of Tigo Energy (NASDAQ:TYGO) from a strong-buy rating to a buy rating in a research note published on Tuesday.

Tigo Energy Stock Down 1.8%

NASDAQ TYGO opened at $3.75 on Tuesday. The stock’s 50-day simple moving average is $3.66 and its two-hundred day simple moving average is $2.60. Tigo Energy has a twelve month low of $0.58 and a twelve month high of $4.57. The company has a market capitalization of $283.50 million, a price-to-earnings ratio of -74.99 and a beta of 1.15.

Tigo Energy (NASDAQ:TYGO) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.20. The firm had revenue of $30.03 million during the quarter, compared to analysts’ expectations of $30.02 million. Tigo Energy had a negative return on equity of 136.32% and a negative net margin of 1.82%. On average, equities analysts expect that Tigo Energy will post -0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. purchased a new position in Tigo Energy in the 3rd quarter worth approximately $31,000. Scientech Research LLC purchased a new stake in shares of Tigo Energy during the third quarter valued at approximately $33,000. Virtu Financial LLC purchased a new stake in shares of Tigo Energy during the third quarter valued at approximately $34,000. NewEdge Advisors LLC grew its holdings in shares of Tigo Energy by 137.7% in the third quarter. NewEdge Advisors LLC now owns 36,162 shares of the company’s stock worth $90,000 after purchasing an additional 20,950 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Tigo Energy by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 335,716 shares of the company’s stock worth $463,000 after buying an additional 21,211 shares during the period. 15.72% of the stock is owned by hedge funds and other institutional investors.

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.