Tigo Energy, Inc. (NASDAQ:TYGO) Short Interest Down 19.5% in February

Tigo Energy, Inc. (NASDAQ:TYGO) was the target of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 136,000 shares, a drop of 19.5% from the February 13th total of 169,000 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average daily trading volume, of 140,600 shares, the short-interest ratio is presently 1.0 days.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $3.00 price target on shares of Tigo Energy in a report on Wednesday, February 12th.

Tigo Energy Stock Down 0.0 %

Shares of NASDAQ TYGO opened at $0.89 on Wednesday. The company has a 50 day simple moving average of $0.94 and a 200-day simple moving average of $1.08. The company has a market capitalization of $54.06 million, a P/E ratio of -0.86 and a beta of 0.79. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.96 and a quick ratio of 1.60. Tigo Energy has a 1 year low of $0.76 and a 1 year high of $1.85.

Tigo Energy (NASDAQ:TYGO) last posted its earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.29). Tigo Energy had a negative net margin of 116.17% and a negative return on equity of 142.03%. On average, equities research analysts predict that Tigo Energy will post -0.43 earnings per share for the current year.

Institutional Trading of Tigo Energy

A hedge fund recently raised its stake in Tigo Energy stock. Geode Capital Management LLC boosted its stake in Tigo Energy, Inc. (NASDAQ:TYGO) by 166.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 234,893 shares of the company’s stock after purchasing an additional 146,634 shares during the period. Geode Capital Management LLC owned about 0.39% of Tigo Energy worth $399,000 at the end of the most recent quarter. Institutional investors and hedge funds own 15.72% of the company’s stock.

About Tigo Energy

Tigo Energy, Inc provides solar and energy storage solutions for the solar industry. It offers module level power electronics (MLPEs) to maximize the energy output of individual solar modules. The company also provides GO Energy Storage Systems that provide solar energy storage management capabilities; and Energy Intelligence (EI) platform, which provides monitoring and energy demand forecasting capabilities.