Tigo Energy (NASDAQ:TYGO) Trading Down 3.9% – Here’s What Happened

Tigo Energy, Inc. (NASDAQ:TYGO) fell 3.9% during mid-day trading on Friday . The company traded as low as $1.48 and last traded at $1.49. 261,633 shares were traded during mid-day trading, a decline of 30% from the average session volume of 373,339 shares. The stock had previously closed at $1.55.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TYGO shares. Wall Street Zen upgraded Tigo Energy to a “hold” rating in a research note on Saturday, September 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tigo Energy in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $4.50.

Tigo Energy Stock Down 3.9%

The stock has a fifty day moving average price of $1.90 and a 200-day moving average price of $1.70. The firm has a market cap of $104.82 million, a price-to-earnings ratio of -2.29 and a beta of 1.17.

Tigo Energy (NASDAQ:TYGO) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $29.60 million. Tigo Energy had a negative return on equity of 623.75% and a negative net margin of 44.50%. As a group, research analysts expect that Tigo Energy, Inc. will post -0.43 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. acquired a new stake in Tigo Energy in the third quarter valued at about $31,000. Scientech Research LLC acquired a new stake in shares of Tigo Energy in the 3rd quarter valued at approximately $33,000. Virtu Financial LLC purchased a new stake in shares of Tigo Energy in the third quarter valued at approximately $34,000. Centiva Capital LP purchased a new stake in shares of Tigo Energy in the third quarter valued at approximately $59,000. Finally, GSA Capital Partners LLP acquired a new position in Tigo Energy during the third quarter worth $63,000. 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.