Tigo Energy, Inc. (NASDAQ:TYGO) Short Interest Update

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

Tigo Energy Price Performance

Shares of Tigo Energy stock traded down $0.09 during trading on Friday, hitting $3.95. The stock had a trading volume of 432,028 shares, compared to its average volume of 780,613. Tigo Energy has a 12 month low of $0.91 and a 12 month high of $5.33. The firm’s fifty day simple moving average is $4.08 and its 200-day simple moving average is $2.99. The stock has a market cap of $299.84 million, a PE ratio of 98.77 and a beta of 1.32.

Tigo Energy (NASDAQ:TYGO) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). The company had revenue of $25.20 million for the quarter, compared to analyst estimates of $25.76 million. Tigo Energy had a net margin of 3.07% and a negative return on equity of 41.48%. Analysts expect that Tigo Energy will post 0.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Tigo Energy

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. bought a new position in Tigo Energy in the third quarter worth approximately $31,000. Scientech Research LLC purchased a new stake in Tigo Energy during the third quarter worth $33,000. Virtu Financial LLC purchased a new stake in Tigo Energy during the third quarter worth $34,000. Potomac Capital Management Inc. bought a new position in shares of Tigo Energy in the 4th quarter worth $38,000. Finally, Centiva Capital LP bought a new stake in Tigo Energy during the third quarter valued at about $59,000. 15.72% of the stock is currently owned by 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.