Tigo Energy (NASDAQ:TYGO – Get Free Report) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.
Several other research firms have also recently commented on TYGO. Northland Securities set a $6.40 price objective on Tigo Energy in a research report on Thursday, May 7th. Roth Capital lowered Tigo Energy from a “buy” rating to a “neutral” rating and set a $1.30 target price for the company. in a research report on Wednesday, August 12th. HC Wainwright lowered their target price on shares of Tigo Energy from $6.00 to $3.50 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Finally, Weiss Ratings raised shares of Tigo Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Tigo Energy presently has a consensus rating of “Hold” and an average price target of $3.73.
Read Our Latest Analysis on TYGO
Tigo Energy Price Performance
Tigo Energy (NASDAQ:TYGO – Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.05 earnings per share (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%. Sell-side analysts predict that Tigo Energy will post -0.01 earnings per share for the current fiscal year.
Insider Transactions at Tigo Energy
In other Tigo Energy news, Director Tomer Babai sold 63,452 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $4.15, for a total value of $263,325.80. Following the transaction, the director owned 214,450 shares of the company’s stock, valued at approximately $889,967.50. This represents a 22.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Joan C. Conley sold 50,000 shares of the firm’s 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 directly owned 227,902 shares in the company, valued at $706,496.20. The trade was a 17.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 463,444 shares of company stock worth $1,631,333 in the last three months. 26.60% of the stock is owned by insiders.
Hedge Funds Weigh In On Tigo Energy
A number of institutional investors and hedge funds have recently made changes to their positions in TYGO. AIGH Capital Management LLC bought a new stake in Tigo Energy during the first quarter valued at approximately $27,374,000. AWM Investment Company Inc. bought a new stake in shares of Tigo Energy during the 2nd quarter valued at $7,801,000. BlackRock Inc. bought a new stake in shares of Tigo Energy during the 2nd quarter valued at $5,044,000. Renaissance Technologies LLC increased its stake in shares of Tigo Energy by 46.0% in the 4th quarter. Renaissance Technologies LLC now owns 1,425,040 shares of the company’s stock worth $1,967,000 after purchasing an additional 449,140 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Tigo Energy by 182.4% in the 3rd quarter. Vanguard Group Inc. now owns 922,226 shares of the company’s stock worth $2,306,000 after purchasing an additional 595,702 shares in the last quarter. Hedge funds and other institutional investors 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.
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