Tigo Energy (NASDAQ:TYGO) Releases Quarterly Earnings Results, Hits Expectations

Tigo Energy (NASDAQ:TYGO) announced its quarterly earnings results on Tuesday. The company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02), FiscalAI reports. Tigo Energy had a negative net margin of 1.82% and a negative return on equity of 136.32%. The company had revenue of $25.20 million for the quarter, compared to analysts’ expectations of $25.76 million.

Tigo Energy Trading Up 10.7%

TYGO traded up $0.50 during trading hours on Tuesday, hitting $5.16. The company’s stock had a trading volume of 814,631 shares, compared to its average volume of 713,854. The business’s 50-day moving average price is $3.97 and its 200-day moving average price is $2.87. Tigo Energy has a 12 month low of $0.81 and a 12 month high of $5.33. The stock has a market cap of $391.44 million, a price-to-earnings ratio of -103.18 and a beta of 1.32.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. XTX Topco Ltd bought a new position in Tigo Energy during the fourth quarter valued at $250,000. Quadrature Capital Ltd increased its position in Tigo Energy by 148.1% during the fourth quarter. Quadrature Capital Ltd now owns 77,187 shares of the company’s stock valued at $107,000 after acquiring an additional 46,074 shares during the last quarter. Man Group plc increased its position in Tigo Energy by 65.0% during the fourth quarter. Man Group plc now owns 228,685 shares of the company’s stock valued at $316,000 after acquiring an additional 90,108 shares during the last quarter. Bridgeway Capital Management LLC bought a new position in Tigo Energy during the fourth quarter valued at $97,000. Finally, OMERS ADMINISTRATION Corp bought a new position in Tigo Energy during the fourth quarter valued at $226,000. Institutional investors own 15.72% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Tigo Energy from a “strong-buy” rating to a “buy” rating in a research report on Sunday, April 19th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Tigo Energy presently has an average rating of “Hold” and an average price target of $4.50.

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.