Tigo Energy, Inc. (NASDAQ:TYGO) Short Interest Up 86.8% in April

Tigo Energy, Inc. (NASDAQ:TYGO) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 617,461 shares, a growth of 86.8% from the April 15th total of 330,610 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average daily volume of 761,572 shares, the short-interest ratio is currently 0.8 days.

Institutional Investors Weigh In On Tigo Energy

Several hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership bought a new position in shares of Tigo Energy during the first quarter valued at $478,000. Sei Investments Co. bought a new position in shares of Tigo Energy during the first quarter valued at $107,000. Walleye Capital LLC lifted its holdings in shares of Tigo Energy by 25.2% during the first quarter. Walleye Capital LLC now owns 651,158 shares of the company’s stock valued at $2,448,000 after purchasing an additional 131,259 shares in the last quarter. AIGH Capital Management LLC bought a new position in shares of Tigo Energy during the first quarter valued at $27,374,000. Finally, XTX Topco Ltd bought a new position in shares of Tigo Energy during the fourth quarter valued at $250,000. 15.72% of the stock is owned by institutional investors.

Tigo Energy Stock Down 0.1%

Shares of TYGO traded down $0.01 during mid-day trading on Monday, hitting $3.95. 644,629 shares of the company’s stock traded hands, compared to its average volume of 717,781. Tigo Energy has a 1 year low of $0.91 and a 1 year high of $5.33. The firm has a market capitalization of $299.47 million, a P/E ratio of 98.65 and a beta of 1.32. The business’s 50-day moving average price is $4.08 and its 200-day moving average price is $2.99.

Tigo Energy (NASDAQ:TYGO) last posted its earnings results on Tuesday, May 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02). Tigo Energy had a negative return on equity of 41.48% and a net margin of 3.07%.The firm had revenue of $25.20 million for the quarter, compared to analysts’ expectations of $25.76 million. Sell-side analysts anticipate that Tigo Energy will post 0.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TYGO has been the topic of a number of analyst reports. Roth Mkm reaffirmed a “buy” rating and issued a $7.00 price target on shares of Tigo Energy in a research note on Wednesday, May 6th. Northland Securities set a $6.40 price target on Tigo Energy in a research note on Thursday, May 7th. Finally, Wall Street Zen cut Tigo Energy from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Tigo Energy has an average rating of “Hold” and an average target price of $6.47.

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.