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

Wall Street Zen upgraded shares of Tigo Energy (NASDAQ:TYGO) from a hold rating to a strong-buy rating in a research report sent to investors on Monday morning.

Tigo Energy Stock Up 2.1%

NASDAQ TYGO opened at $3.90 on Monday. Tigo Energy has a fifty-two week low of $0.58 and a fifty-two week high of $4.57. The business has a 50 day moving average price of $3.47 and a two-hundred day moving average price of $2.48. The stock has a market cap of $294.84 million, a PE ratio of -77.98 and a beta of 1.19.

Tigo Energy (NASDAQ:TYGO) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.16 earnings per share (EPS) 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 136.32%. The company had revenue of $30.03 million for the quarter, compared to analyst estimates of $30.02 million. Sell-side analysts anticipate that Tigo Energy will post -0.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Tigo Energy

A number of institutional investors have recently added to or reduced their stakes in TYGO. Vanguard Group Inc. grew its stake in shares of Tigo Energy by 182.4% during the third 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 in the last quarter. Renaissance Technologies LLC increased its position in shares of Tigo Energy by 46.0% during the fourth quarter. Renaissance Technologies LLC now owns 1,425,040 shares of the company’s stock worth $1,967,000 after acquiring an additional 449,140 shares during the last quarter. Walleye Capital LLC lifted its stake in shares of Tigo Energy by 126.7% in the fourth quarter. Walleye Capital LLC now owns 519,899 shares of the company’s stock worth $717,000 after acquiring an additional 290,544 shares in the last quarter. AWM Investment Company Inc. acquired a new position in shares of Tigo Energy in the fourth quarter worth about $329,000. Finally, XTX Topco Ltd purchased a new position in Tigo Energy in the fourth quarter valued at about $250,000. Institutional investors and hedge funds own 15.72% of the company’s stock.

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.