Tigo Energy (NASDAQ:TYGO) Raised to Strong-Buy at Wall Street Zen

Tigo Energy (NASDAQ:TYGO) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “strong-buy” rating in a research report issued on Monday.

Tigo Energy Stock Up 8.5%

Shares of NASDAQ:TYGO opened at $4.23 on Monday. The firm has a fifty day simple moving average of $3.52 and a two-hundred day simple moving average of $2.50. Tigo Energy has a 52 week low of $0.58 and a 52 week high of $4.57. The stock has a market capitalization of $319.79 million, a P/E ratio of -84.58 and a beta of 1.19.

Tigo Energy (NASDAQ:TYGO) last announced its earnings results on Tuesday, February 24th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.20. Tigo Energy had a negative net margin of 1.82% and a negative return on equity of 136.32%. The firm had revenue of $30.03 million for the quarter, compared to analysts’ expectations of $30.02 million. On average, analysts expect that Tigo Energy will post -0.43 earnings per share for the current year.

Institutional Investors Weigh In On Tigo Energy

Several institutional investors have recently modified their holdings of TYGO. Renaissance Technologies LLC increased its position in shares of Tigo Energy by 46.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,425,040 shares of the company’s stock valued at $1,967,000 after purchasing an additional 449,140 shares during the last quarter. Vanguard Group Inc. lifted its position in Tigo Energy by 182.4% in the third quarter. Vanguard Group Inc. now owns 922,226 shares of the company’s stock worth $2,306,000 after buying an additional 595,702 shares during the last quarter. Walleye Capital LLC boosted its stake in Tigo Energy by 126.7% during the fourth quarter. Walleye Capital LLC now owns 519,899 shares of the company’s stock worth $717,000 after buying an additional 290,544 shares during the period. Geode Capital Management LLC boosted its stake in Tigo Energy by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 335,716 shares of the company’s stock worth $463,000 after buying an additional 21,211 shares during the period. Finally, Marshall Wace LLP increased its position in Tigo Energy by 92.9% during the fourth quarter. Marshall Wace LLP now owns 312,968 shares of the company’s stock valued at $432,000 after acquiring an additional 150,693 shares during the last quarter. 15.72% of the stock is owned by institutional investors.

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.