Tigo Energy (NASDAQ:TYGO) Cut to Neutral at Roth Capital

Roth Capital cut shares of Tigo Energy (NASDAQ:TYGO) from a buy rating to a neutral rating in a research report report published on Wednesday morning, MarketBeat reports. They currently have $1.30 price objective on the stock.

Other equities analysts have also recently issued research reports about the company. HC Wainwright decreased their price target on Tigo Energy from $6.00 to $3.50 and set a “buy” rating for the company in a report on Wednesday, August 5th. Weiss Ratings raised shares of Tigo Energy from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Northland Securities set a $6.40 target price on shares of Tigo Energy in a research report on Thursday, May 7th. Finally, Wall Street Zen downgraded shares of Tigo Energy from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Tigo Energy has an average rating of “Hold” and an average target price of $3.73.

Tigo Energy Trading Down 3.2%

NASDAQ:TYGO opened at $1.22 on Wednesday. The business’s 50-day moving average is $2.04 and its two-hundred day moving average is $3.24. The firm has a market capitalization of $92.61 million, a PE ratio of 8.71 and a beta of 1.32. Tigo Energy has a 12 month low of $0.93 and a 12 month high of $5.33. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.04 and a quick ratio of 1.90.

Tigo Energy (NASDAQ:TYGO) last posted its earnings results on Tuesday, August 4th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $25.41 million during the quarter, compared to analyst estimates of $30.82 million. Tigo Energy had a negative return on equity of 1.74% and a net margin of 8.97%. Research analysts predict that Tigo Energy will post -0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Joan C. Conley sold 50,000 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $3.10, for a total value of $155,000.00. Following the completion of the transaction, the director owned 227,902 shares of the company’s stock, valued at approximately $706,496.20. This represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Sagit Manor sold 63,500 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $2.85, for a total value of $180,975.00. Following the completion of the transaction, the director directly owned 323,098 shares of the company’s stock, valued at $920,829.30. This represents a 16.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 463,444 shares of company stock worth $1,631,333. 26.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Tigo Energy

Several institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. acquired a new stake in shares of Tigo Energy during the third quarter worth approximately $31,000. Walleye Capital LLC acquired a new stake in Tigo Energy in the second quarter valued at $29,000. Scientech Research LLC bought a new position in Tigo Energy during the 3rd quarter valued at $33,000. Virtu Financial LLC bought a new position in Tigo Energy during the 3rd quarter valued at $34,000. Finally, NewEdge Advisors LLC boosted its stake in Tigo Energy by 137.7% during the 3rd quarter. NewEdge Advisors LLC now owns 36,162 shares of the company’s stock valued at $90,000 after acquiring an additional 20,950 shares during the last quarter. 15.72% of the stock is currently owned by hedge funds and other 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.