Tigo Energy (NASDAQ:TYGO) Downgraded to Buy Rating by Wall Street Zen

Wall Street Zen downgraded shares of Tigo Energy (NASDAQ:TYGO) from a strong-buy rating to a buy rating in a research note published on Sunday.

Tigo Energy Stock Performance

NASDAQ TYGO opened at $3.97 on Friday. The stock has a 50-day simple moving average of $3.73 and a 200 day simple moving average of $2.73. The company has a market capitalization of $301.16 million, a PE ratio of -79.38 and a beta of 1.15. Tigo Energy has a 12 month low of $0.75 and a 12 month high of $4.57.

Tigo Energy (NASDAQ:TYGO) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.20. The business had revenue of $30.03 million during the quarter, compared to the consensus estimate of $30.02 million. Tigo Energy had a negative return on equity of 136.32% and a negative net margin of 1.82%. As a group, sell-side analysts predict that Tigo Energy will post -0.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tigo Energy

Several large investors have recently modified their holdings of TYGO. JPMorgan Chase & Co. bought a new stake in shares of Tigo Energy in the third quarter worth about $31,000. Vanguard Group Inc. increased its holdings in shares of 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 acquiring an additional 595,702 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Tigo Energy in the third quarter worth about $63,000. Hillsdale Investment Management Inc. bought a new stake in shares of Tigo Energy in the third quarter worth about $443,000. Finally, Two Sigma Investments LP bought a new stake in shares of Tigo Energy in the third quarter worth about $431,000. 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.