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

Wall Street Zen downgraded shares of Tigo Energy (NASDAQ:TYGO) from a buy rating to a hold rating in a research note released on Sunday morning.

Tigo Energy Trading Up 9.8%

TYGO stock opened at $4.14 on Friday. The firm has a 50 day moving average of $3.27 and a 200-day moving average of $2.41. The firm has a market capitalization of $292.04 million, a P/E ratio of -82.78 and a beta of 1.19. Tigo Energy has a 12 month low of $0.58 and a 12 month high of $4.50.

Tigo Energy (NASDAQ:TYGO) last posted its earnings results on Tuesday, February 24th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.20. Tigo Energy had a negative net margin of 1.82% and a negative return on equity of 263.41%. The business had revenue of $30.03 million for the quarter, compared to analyst estimates of $30.02 million. Sell-side analysts predict that Tigo Energy will post -0.43 EPS for the current year.

Institutional Investors Weigh In On Tigo Energy

Several large investors have recently added to or reduced their stakes in TYGO. JPMorgan Chase & Co. bought a new position in Tigo Energy in the 3rd quarter worth about $31,000. Scientech Research LLC bought a new stake in shares of Tigo Energy during the 3rd quarter valued at about $33,000. Virtu Financial LLC purchased a new position in shares of Tigo Energy during the third quarter worth about $34,000. Potomac Capital Management Inc. purchased a new stake in Tigo Energy in the fourth quarter valued at approximately $38,000. Finally, Centiva Capital LP bought a new stake in Tigo Energy during the third quarter valued at approximately $59,000. Institutional investors own 15.72% of the company’s stock.

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.