Tigo Energy (NASDAQ:TYGO) Trading Down 0.6% – What’s Next?

Tigo Energy, Inc. (NASDAQ:TYGO) traded down 0.6% on Thursday . The company traded as low as $3.11 and last traded at $3.44. 1,182,851 shares were traded during mid-day trading, an increase of 24% from the average session volume of 955,592 shares. The stock had previously closed at $3.46.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Tigo Energy in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $4.50.

Tigo Energy Trading Up 2.9%

The firm has a 50-day moving average price of $1.83 and a 200 day moving average price of $1.81. The company has a market cap of $249.04 million, a price-to-earnings ratio of -5.45 and a beta of 1.20.

Tigo Energy (NASDAQ:TYGO) last released its quarterly earnings data on Tuesday, October 28th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. The firm had revenue of $30.61 million for the quarter, compared to analyst estimates of $29.60 million. Tigo Energy had a negative net margin of 44.50% and a negative return on equity of 623.75%. Research analysts anticipate that Tigo Energy, Inc. will post -0.43 earnings per share for the current fiscal year.

Institutional Trading of Tigo Energy

Several large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. bought a new position in shares of Tigo Energy in the third quarter worth $31,000. Scientech Research LLC bought a new stake in shares of Tigo Energy during the 3rd quarter worth about $33,000. Virtu Financial LLC bought a new stake in shares of Tigo Energy during the 3rd quarter worth about $34,000. Centiva Capital LP acquired a new stake in shares of Tigo Energy in the 3rd quarter worth approximately $59,000. Finally, GSA Capital Partners LLP bought a new position in shares of Tigo Energy in the third quarter valued at approximately $63,000. 15.72% of the stock is currently owned by institutional investors and hedge funds.

Tigo Energy Company Profile

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.