Tigo Energy (NASDAQ:TYGO) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Tigo Energy (NASDAQ:TYGO) from a hold rating to a sell rating in a research note released on Saturday.

Several other equities analysts have also recently commented on TYGO. Roth Capital cut shares of Tigo Energy from a “buy” rating to a “neutral” rating and set a $1.30 price target on the stock. in a report on Wednesday, August 12th. Northland Securities set a $6.40 price objective on Tigo Energy in a report on Thursday, May 7th. HC Wainwright reduced their price objective on Tigo Energy from $6.00 to $3.50 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Finally, Weiss Ratings upgraded Tigo Energy from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $3.73.

Tigo Energy Price Performance

Shares of TYGO opened at $1.17 on Friday. The business’s 50-day moving average is $2.00 and its 200-day moving average is $3.22. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.04 and a quick ratio of 1.90. The company has a market capitalization of $88.81 million, a price-to-earnings ratio of 8.36 and a beta of 1.32. Tigo Energy has a fifty-two week low of $0.93 and a fifty-two week high of $5.33.

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

Insider Buying and Selling at Tigo Energy

In other news, Director Joan C. Conley sold 50,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $3.10, for a total transaction of $155,000.00. Following the completion of the sale, the director owned 227,902 shares in the company, valued at approximately $706,496.20. This represents a 17.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tomer Babai sold 63,452 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $4.15, for a total value of $263,325.80. Following the transaction, the director directly owned 214,450 shares in the company, valued at approximately $889,967.50. This represents a 22.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 463,444 shares of company stock worth $1,631,333. Company insiders own 26.60% of the company’s stock.

Hedge Funds Weigh In On Tigo Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Walleye Capital LLC acquired a new stake in shares of Tigo Energy in the second quarter worth $29,000. JPMorgan Chase & Co. acquired a new position in Tigo Energy in the 3rd quarter valued at $31,000. Scientech Research LLC acquired a new position in Tigo Energy in the 3rd quarter valued at $33,000. Virtu Financial LLC acquired a new stake in shares of Tigo Energy in the third quarter valued at about $34,000. Finally, Potomac Capital Management Inc. bought a new position in shares of Tigo Energy in the fourth quarter worth about $38,000. Institutional investors and hedge funds own 15.72% of the company’s stock.

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.