Tigo Energy (NASDAQ:TYGO) Announces Earnings Results

Tigo Energy (NASDAQ:TYGO) announced its quarterly earnings data on Tuesday. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.02), Zacks reports. The business had revenue of $12.70 million for the quarter, compared to analyst estimates of $13.91 million. Tigo Energy had a negative net margin of 18.48% and a negative return on equity of 61.94%. During the same quarter in the previous year, the firm posted $0.14 earnings per share. Tigo Energy updated its Q3 2024 guidance to EPS.

Tigo Energy Price Performance

Shares of Tigo Energy stock traded down $0.16 during trading hours on Wednesday, reaching $1.28. 36,149 shares of the company’s stock were exchanged, compared to its average volume of 61,371. The business has a fifty day moving average of $1.54 and a two-hundred day moving average of $1.34. The company has a market capitalization of $77.27 million, a P/E ratio of -0.84 and a beta of 0.85. The company has a quick ratio of 2.31, a current ratio of 6.24 and a debt-to-equity ratio of 0.62. Tigo Energy has a 1 year low of $0.86 and a 1 year high of $21.48.

Wall Street Analyst Weigh In

TYGO has been the subject of several recent research reports. Northland Securities reduced their price target on Tigo Energy from $4.80 to $4.50 and set an “outperform” rating for the company in a research report on Wednesday. Roth Mkm increased their target price on shares of Tigo Energy from $1.40 to $1.50 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Finally, HC Wainwright reduced their price target on Tigo Energy from $5.00 to $3.00 and set a “buy” rating for the company in a report on Wednesday.

About Tigo Energy

Tigo Energy, Inc provides solar and energy storage solutions for the solar industry. It offers module level power electronics (MLPEs) to maximize the energy output of individual solar modules. The company also provides GO Energy Storage Systems that provide solar energy storage management capabilities; and Energy Intelligence (EI) platform, which provides monitoring and energy demand forecasting capabilities.