Tigo Energy (NASDAQ:TYGO) Posts Quarterly Earnings Results, Beats Expectations By $0.20 EPS

Tigo Energy (NASDAQ:TYGO) released its quarterly earnings results on Tuesday. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.20, FiscalAI reports. Tigo Energy had a negative net margin of 44.50% and a negative return on equity of 623.75%. The company had revenue of $30.03 million for the quarter, compared to analyst estimates of $30.02 million.

Tigo Energy Stock Performance

Shares of Tigo Energy stock traded up $0.19 during mid-day trading on Tuesday, hitting $3.54. 466,193 shares of the stock were exchanged, compared to its average volume of 940,719. Tigo Energy has a 12 month low of $0.58 and a 12 month high of $4.50. The company has a 50-day simple moving average of $2.56 and a 200 day simple moving average of $2.14. The company has a market capitalization of $249.04 million, a P/E ratio of -5.45 and a beta of 1.22.

Institutional Trading of Tigo Energy

A number of institutional investors and hedge funds have recently modified their holdings of TYGO. JPMorgan Chase & Co. bought a new stake in Tigo Energy during the third quarter worth $31,000. Scientech Research LLC purchased a new stake in shares of Tigo Energy during the 3rd quarter valued at $33,000. Virtu Financial LLC bought a new stake in shares of Tigo Energy during the 3rd quarter worth $34,000. Centiva Capital LP purchased a new position in shares of Tigo Energy in the 3rd quarter worth about $59,000. Finally, Heron Bay Capital Management purchased a new position in shares of Tigo Energy in the 4th quarter worth about $76,000. 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.