Tigo Energy (NASDAQ:TYGO) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Tigo Energy (NASDAQ:TYGO) from a hold rating to a sell rating in a research report report published on Saturday morning.

Several other equities analysts also recently commented on the company. Northland Securities set a $6.40 price target on Tigo Energy in a report on Thursday, May 7th. Weiss Ratings upgraded shares of Tigo Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Roth Capital downgraded shares of Tigo Energy from a “buy” rating to a “neutral” rating and set a $1.30 price objective for the company. in a report on Wednesday. Finally, HC Wainwright dropped their target price on shares of Tigo Energy from $6.00 to $3.50 and set a “buy” rating on the stock in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $3.73.

Tigo Energy Stock Performance

TYGO opened at $1.22 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.90 and a current ratio of 3.04. The company has a market cap of $92.61 million, a PE ratio of 8.71 and a beta of 1.32. The stock has a 50-day moving average of $2.04 and a 200-day moving average of $3.24. Tigo Energy has a 52-week low of $0.93 and a 52-week high of $5.33.

Tigo Energy (NASDAQ:TYGO) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Tigo Energy had a negative return on equity of 1.74% and a net margin of 8.97%.The business had revenue of $25.41 million for the quarter, compared to the consensus estimate of $30.82 million. As a group, equities research analysts forecast that Tigo Energy will post -0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Tomer Babai sold 63,452 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $4.15, for a total value of $263,325.80. Following the completion of the sale, the director directly owned 214,450 shares of the company’s stock, valued at approximately $889,967.50. This represents a 22.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sagit Manor sold 63,500 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $2.85, for a total value of $180,975.00. Following the completion of the sale, the director directly owned 323,098 shares of the company’s stock, valued at $920,829.30. This represents a 16.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 463,444 shares of company stock valued at $1,631,333. Corporate insiders own 26.60% of the company’s stock.

Hedge Funds Weigh In On Tigo Energy

Several large investors have recently bought and sold shares of TYGO. AIGH Capital Management LLC acquired a new stake in Tigo Energy in the 1st quarter worth $27,374,000. Potomac Capital Management Inc. bought a new position in shares of Tigo Energy during the 4th quarter worth about $38,000. JPMorgan Chase & Co. acquired a new position in shares of Tigo Energy during the third quarter valued at about $31,000. AWM Investment Company Inc. acquired a new position in shares of Tigo Energy during the second quarter valued at about $7,801,000. Finally, Deutsche Bank AG bought a new stake in shares of Tigo Energy in the second quarter valued at about $91,000. 15.72% of the stock is currently owned by institutional investors and hedge funds.

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.