HC Wainwright Issues Pessimistic Forecast for Tigo Energy (NASDAQ:TYGO) Stock Price

Tigo Energy (NASDAQ:TYGO) had its target price cut by research analysts at HC Wainwright from $6.00 to $3.50 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 71.57% from the stock’s current price.

A number of other research analysts have also issued reports on TYGO. Northland Securities set a $6.40 price target on Tigo Energy in a research report on Thursday, May 7th. Wall Street Zen lowered Tigo Energy from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings upgraded shares of Tigo Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 20th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Tigo Energy in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.63.

Tigo Energy Trading Up 4.6%

Shares of NASDAQ TYGO opened at $2.04 on Wednesday. Tigo Energy has a 12-month low of $1.21 and a 12-month high of $5.33. The company has a market cap of $154.86 million, a PE ratio of 51.01 and a beta of 1.32. The stock has a 50 day simple moving average of $2.45 and a 200-day simple moving average of $3.35.

Tigo Energy (NASDAQ:TYGO) last posted its earnings results on Tuesday, May 5th. The company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). The firm had revenue of $25.20 million for the quarter, compared to analysts’ expectations of $25.76 million. Tigo Energy had a negative return on equity of 41.48% and a net margin of 3.07%. Sell-side analysts forecast that Tigo Energy will post 0.04 earnings per share for the current fiscal year.

Insider Transactions at Tigo Energy

In other news, Director Joan C. Conley sold 50,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $3.10, for a total value of $155,000.00. Following the sale, the director owned 227,902 shares of the company’s stock, valued at approximately $706,496.20. The trade was a 17.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Zvi Alon sold 87,912 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $3.52, for a total value of $309,450.24. Following the completion of the sale, the chief executive officer directly owned 1,311,373 shares in the company, valued at $4,616,032.96. This represents a 6.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 463,444 shares of company stock valued at $1,631,333 in the last quarter. Company insiders own 26.60% of the company’s stock.

Hedge Funds Weigh In On Tigo Energy

Hedge funds have recently modified their holdings of the stock. Walleye Capital LLC acquired a new stake in shares of Tigo Energy during the second quarter worth $29,000. JPMorgan Chase & Co. acquired a new position in shares of Tigo Energy in the 3rd quarter valued at $31,000. Scientech Research LLC acquired a new position in shares of Tigo Energy in the 3rd quarter valued at $33,000. Virtu Financial LLC acquired a new position in shares of Tigo Energy in the 3rd quarter valued at $34,000. Finally, Potomac Capital Management Inc. purchased a new position in Tigo Energy in the 4th quarter worth about $38,000. 15.72% of the stock is currently 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.