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

Tigo Energy (NASDAQ:TYGO) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday.

Tigo Energy Trading Up 9.9%

Shares of TYGO stock opened at $3.77 on Friday. Tigo Energy has a 12-month low of $0.58 and a 12-month high of $4.50. The business’s fifty day simple moving average is $3.22 and its 200-day simple moving average is $2.39. The company has a market cap of $265.94 million, a PE ratio of -75.38 and a beta of 1.19.

Tigo Energy (NASDAQ:TYGO) last posted its quarterly earnings data 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. The firm had revenue of $30.03 million during the quarter, compared to analysts’ expectations of $30.02 million. Tigo Energy had a negative return on equity of 263.41% and a negative net margin of 1.82%. On average, equities analysts forecast that Tigo Energy will post -0.43 earnings per share for the current year.

Hedge Funds Weigh In On Tigo Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new stake in Tigo Energy during the 3rd quarter valued at about $31,000. Scientech Research LLC acquired a new stake in Tigo Energy during the 3rd quarter worth about $33,000. Virtu Financial LLC purchased a new position in shares of Tigo Energy during the 3rd quarter valued at about $34,000. Potomac Capital Management Inc. acquired a new stake in Tigo Energy during the fourth quarter worth about $38,000. Finally, Centiva Capital LP acquired a new position in Tigo Energy in the third quarter valued at approximately $59,000. Hedge funds and other 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.