Tigo Energy (NASDAQ:TYGO) Upgraded by Wall Street Zen to “Buy” Rating

Tigo Energy (NASDAQ:TYGO) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Tigo Energy Stock Performance

Tigo Energy stock opened at $3.37 on Friday. Tigo Energy has a 1 year low of $0.58 and a 1 year high of $4.50. The firm has a 50 day moving average price of $2.95 and a 200 day moving average price of $2.28. The company has a market cap of $237.72 million, a price-to-earnings ratio of -67.39 and a beta of 1.19.

Tigo Energy (NASDAQ:TYGO) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.20. Tigo Energy had a negative net margin of 1.82% and a negative return on equity of 263.41%. The company had revenue of $30.03 million for the quarter, compared to analyst estimates of $30.02 million. Sell-side analysts predict that Tigo Energy will post -0.43 EPS for the current year.

Hedge Funds Weigh In On Tigo Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. purchased a new stake in shares of Tigo Energy during the 3rd quarter worth about $31,000. Vanguard Group Inc. raised its holdings in Tigo Energy by 182.4% in the third quarter. Vanguard Group Inc. now owns 922,226 shares of the company’s stock valued at $2,306,000 after buying an additional 595,702 shares during the period. GSA Capital Partners LLP acquired a new position in Tigo Energy during the third quarter valued at approximately $63,000. Hillsdale Investment Management Inc. purchased a new stake in Tigo Energy during the third quarter worth approximately $443,000. Finally, Two Sigma Investments LP purchased a new stake in Tigo Energy during the third quarter worth approximately $431,000. 15.72% of the stock is owned by institutional investors and hedge funds.

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.