Short Interest in Tigo Energy, Inc. (NASDAQ:TYGO) Rises By 86.8%

Tigo Energy, Inc. (NASDAQ:TYGO) was the recipient of a significant increase in short interest in April. As of April 30th, there was short interest totaling 617,461 shares, an increase of 86.8% from the April 15th total of 330,610 shares. Based on an average trading volume of 761,572 shares, the days-to-cover ratio is presently 0.8 days. Approximately 1.1% of the company’s stock are short sold.

Institutional Investors Weigh In On Tigo Energy

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TYGO. Roth Mkm reissued a “buy” rating and set a $7.00 price objective on shares of Tigo Energy in a report on Wednesday, May 6th. Wall Street Zen downgraded shares of Tigo Energy from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Northland Securities set a $6.40 price target on Tigo Energy in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Tigo Energy presently has an average rating of “Hold” and a consensus price target of $6.47.

Tigo Energy Stock Down 2.2%

Shares of TYGO stock traded down $0.09 during trading hours on Friday, hitting $3.95. 432,028 shares of the company’s stock were exchanged, compared to its average volume of 780,613. The firm has a market cap of $299.84 million, a P/E ratio of 98.77 and a beta of 1.32. The firm has a 50 day moving average of $4.08 and a two-hundred day moving average of $2.99. Tigo Energy has a fifty-two week low of $0.91 and a fifty-two week high of $5.33.

Tigo Energy (NASDAQ:TYGO) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). The company had revenue of $25.20 million during the quarter, compared to analysts’ expectations of $25.76 million. Tigo Energy had a net margin of 3.07% and a negative return on equity of 41.48%. On average, equities analysts forecast that Tigo Energy will post 0.04 earnings per share for the current fiscal year.

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.