Tigo Energy (NASDAQ:TYGO) Trading Down 5.2% – Here’s What Happened

Tigo Energy, Inc. (NASDAQ:TYGO)’s stock price was down 5.2% during mid-day trading on Monday . The company traded as low as $0.84 and last traded at $0.84. Approximately 15,050 shares were traded during trading, a decline of 92% from the average daily volume of 186,794 shares. The stock had previously closed at $0.89.

Analyst Upgrades and Downgrades

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

Tigo Energy Stock Performance

The firm has a market capitalization of $51.02 million, a price-to-earnings ratio of -0.81 and a beta of 0.79. The company has a quick ratio of 1.60, a current ratio of 3.96 and a debt-to-equity ratio of 1.14. The stock has a 50-day moving average price of $0.96 and a 200 day moving average price of $1.10.

Tigo Energy (NASDAQ:TYGO) last announced its quarterly earnings data 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 142.03% and a negative net margin of 116.17%. On average, analysts forecast that Tigo Energy, Inc. will post -0.43 EPS for the current year.

Hedge Funds Weigh In On Tigo Energy

An institutional investor recently raised its position in Tigo Energy stock. Geode Capital Management LLC boosted its holdings in Tigo Energy, Inc. (NASDAQ:TYGO) by 166.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 234,893 shares of the company’s stock after purchasing an additional 146,634 shares during the quarter. Geode Capital Management LLC owned about 0.39% of Tigo Energy worth $399,000 as of its most recent SEC filing. 15.72% of the stock is owned by institutional investors and hedge funds.

Tigo Energy Company Profile

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.