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

Wall Street Zen cut shares of Tigo Energy (NASDAQ:TYGO) from a strong-buy rating to a buy rating in a report issued on Sunday.

Tigo Energy Price Performance

Tigo Energy stock opened at $4.79 on Friday. Tigo Energy has a 1-year low of $0.75 and a 1-year high of $4.81. The stock has a market cap of $363.37 million, a PE ratio of -95.78 and a beta of 1.15. The stock’s fifty day moving average is $3.76 and its two-hundred day moving average is $2.76.

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

Institutional Trading of Tigo Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. acquired a new stake in Tigo Energy in the third quarter valued at $31,000. Scientech Research LLC acquired a new stake in shares of Tigo Energy during the third quarter worth about $33,000. Virtu Financial LLC acquired a new stake in shares of Tigo Energy during the third quarter worth about $34,000. Potomac Capital Management Inc. acquired a new stake in shares of Tigo Energy during the fourth quarter worth about $38,000. Finally, Centiva Capital LP acquired a new stake in shares of Tigo Energy during the third quarter worth about $59,000. 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.