Tigo Energy, Inc. (NASDAQ:TYGO) Sees Large Decrease in Short Interest

Tigo Energy, Inc. (NASDAQ:TYGO) was the recipient of a significant decrease in short interest in March. As of March 15th, there was short interest totalling 86,800 shares, a decrease of 36.2% from the February 28th total of 136,000 shares. Based on an average daily volume of 138,200 shares, the short-interest ratio is currently 0.6 days. Approximately 0.3% of the shares of the company are sold short.

Tigo Energy Stock Down 9.3 %

Shares of NASDAQ TYGO opened at $0.86 on Monday. The stock has a market capitalization of $53.37 million, a price-to-earnings ratio of -0.83 and a beta of 0.79. Tigo Energy has a 52 week low of $0.76 and a 52 week high of $1.85. The firm has a 50-day moving average price of $0.95 and a 200 day moving average price of $1.07. The company has a quick ratio of 1.60, a current ratio of 3.96 and a debt-to-equity ratio of 1.14.

Tigo Energy (NASDAQ:TYGO) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.29). Tigo Energy had a negative return on equity of 142.03% and a negative net margin of 116.17%. Equities research analysts anticipate that Tigo Energy will post -0.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Tigo Energy

A hedge fund recently raised its stake in Tigo Energy stock. Geode Capital Management LLC raised its stake in shares of Tigo Energy, Inc. (NASDAQ:TYGO) by 166.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 234,893 shares of the company’s stock after buying an additional 146,634 shares during the quarter. Geode Capital Management LLC owned about 0.39% of Tigo Energy worth $399,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 15.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and set a $3.00 target price on shares of Tigo Energy in a research report on Wednesday, February 12th.

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.