Tigo Energy (NASDAQ:TYGO) Rating Lowered to “Buy” at Wall Street Zen

Tigo Energy (NASDAQ:TYGO) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday.

Tigo Energy Trading Up 1.6%

NASDAQ TYGO opened at $3.82 on Tuesday. The business’s 50 day moving average is $3.65 and its two-hundred day moving average is $2.59. Tigo Energy has a 12-month low of $0.58 and a 12-month high of $4.57. The stock has a market capitalization of $288.79 million, a price-to-earnings ratio of -76.38 and a beta of 1.15.

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

Institutional Investors Weigh In On Tigo Energy

Several institutional investors have recently made changes to their positions in TYGO. JPMorgan Chase & Co. acquired a new position in shares of Tigo Energy during the 3rd quarter worth $31,000. Scientech Research LLC acquired a new stake in shares of Tigo Energy in the third quarter valued at about $33,000. Virtu Financial LLC purchased a new stake in Tigo Energy during the third quarter worth about $34,000. Potomac Capital Management Inc. purchased a new stake in Tigo Energy during the fourth quarter worth about $38,000. Finally, Centiva Capital LP acquired a new position in Tigo Energy during the third quarter worth about $59,000. 15.72% of the stock is currently owned by hedge funds and other 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.