Tigo Energy (NASDAQ:TYGO) Earns “Buy” Rating from HC Wainwright

Tigo Energy (NASDAQ:TYGO)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $3.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 188.46% from the stock’s current price.

Tigo Energy Stock Performance

Tigo Energy stock opened at $1.04 on Wednesday. The company has a current ratio of 3.96, a quick ratio of 1.60 and a debt-to-equity ratio of 1.14. Tigo Energy has a 1-year low of $0.76 and a 1-year high of $2.12. The firm has a market capitalization of $63.17 million, a PE ratio of -1.22 and a beta of 0.77. The firm’s 50 day simple moving average is $0.94 and its 200 day simple moving average is $1.15.

Tigo Energy (NASDAQ:TYGO) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.29). Tigo Energy had a negative return on equity of 103.85% and a negative net margin of 110.29%. As a group, analysts expect that Tigo Energy will post -0.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tigo Energy

A hedge fund recently raised its stake in Tigo Energy stock. Geode Capital Management LLC increased its holdings in Tigo Energy, Inc. (NASDAQ:TYGO) by 166.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 234,893 shares of the company’s stock after purchasing an additional 146,634 shares during the period. Geode Capital Management LLC owned approximately 0.39% of Tigo Energy worth $399,000 as of its most recent SEC filing. 15.72% of the stock is currently owned by institutional investors.

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.