Short Interest in Tigo Energy, Inc. (NASDAQ:TYGO) Decreases By 20.6%

Tigo Energy, Inc. (NASDAQ:TYGO) was the target of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 169,700 shares, a drop of 20.6% from the January 15th total of 213,800 shares. Based on an average daily volume of 141,500 shares, the short-interest ratio is currently 1.2 days. Currently, 0.6% of the shares of the company are sold short.

Institutional Investors Weigh In On Tigo Energy

A hedge fund recently raised its stake in Tigo Energy stock. Geode Capital Management LLC raised its position in Tigo Energy, Inc. (NASDAQ:TYGO) by 166.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 quarter. 15.72% of the stock is currently owned by institutional investors and hedge funds.

Tigo Energy Stock Performance

Shares of TYGO stock opened at $1.04 on Friday. The company has a market capitalization of $63.17 million, a price-to-earnings ratio of -1.22 and a beta of 0.77. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.60 and a current ratio of 3.96. Tigo Energy has a 52 week low of $0.76 and a 52 week high of $2.12. The company has a 50-day simple moving average of $0.94 and a 200 day simple moving average of $1.15.

Tigo Energy (NASDAQ:TYGO) last posted its 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 net margin of 110.29% and a negative return on equity of 103.85%. On average, sell-side analysts predict that Tigo Energy will post -0.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and set a $3.00 target price on shares of Tigo Energy 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.