Tigo Energy (NASDAQ:TYGO) Shares Down 5.5%

Tigo Energy, Inc. (NASDAQ:TYGO)’s stock price was down 5.5% during mid-day trading on Friday . The stock traded as low as $1.04 and last traded at $1.12. Approximately 20,932 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 56,461 shares. The stock had previously closed at $1.18.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TYGO shares. Northland Securities decreased their price objective on Tigo Energy from $4.80 to $4.50 and set an “outperform” rating for the company in a report on Wednesday, August 7th. HC Wainwright dropped their price objective on shares of Tigo Energy from $5.00 to $3.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Roth Mkm upped their target price on shares of Tigo Energy from $1.40 to $1.50 and gave the stock a “neutral” rating in a report on Thursday, May 16th.

Tigo Energy Stock Down 5.5 %

The stock’s fifty day simple moving average is $1.39 and its 200-day simple moving average is $1.30. The stock has a market capitalization of $67.31 million, a PE ratio of -0.72 and a beta of 0.81. The company has a current ratio of 5.37, a quick ratio of 2.05 and a debt-to-equity ratio of 0.81.

Tigo Energy (NASDAQ:TYGO) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). The business had revenue of $12.70 million during the quarter, compared to the consensus estimate of $13.91 million. Tigo Energy had a negative net margin of 17.49% and a negative return on equity of 85.92%. During the same quarter last year, the company earned $0.14 EPS. As a group, sell-side analysts forecast that Tigo Energy, Inc. will post -0.7 EPS for the current fiscal year.

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.