Tigo Energy (NASDAQ:TYGO) Upgraded to “Strong-Buy” at Wall Street Zen

Tigo Energy (NASDAQ:TYGO) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

Tigo Energy Stock Performance

NASDAQ:TYGO opened at $3.62 on Friday. The company has a 50-day moving average of $3.69 and a 200-day moving average of $2.67. The company has a market capitalization of $274.61 million, a price-to-earnings ratio of -72.39 and a beta of 1.15. Tigo Energy has a 52 week low of $0.70 and a 52 week high of $4.57.

Tigo Energy (NASDAQ:TYGO) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.20. The company had revenue of $30.03 million during the quarter, compared to the consensus estimate of $30.02 million. Tigo Energy had a negative net margin of 1.82% and a negative return on equity of 136.32%. Sell-side analysts forecast that Tigo Energy will post -0.43 EPS for the current year.

Hedge Funds Weigh In On Tigo Energy

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its holdings in Tigo Energy by 46.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,425,040 shares of the company’s stock valued at $1,967,000 after purchasing an additional 449,140 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Tigo Energy by 182.4% during the 3rd quarter. Vanguard Group Inc. now owns 922,226 shares of the company’s stock valued at $2,306,000 after purchasing an additional 595,702 shares during the last quarter. Walleye Capital LLC lifted its holdings in Tigo Energy by 126.7% during the 4th quarter. Walleye Capital LLC now owns 519,899 shares of the company’s stock valued at $717,000 after purchasing an additional 290,544 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Tigo Energy by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 335,716 shares of the company’s stock valued at $463,000 after purchasing an additional 21,211 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in Tigo Energy by 92.9% during the 4th quarter. Marshall Wace LLP now owns 312,968 shares of the company’s stock valued at $432,000 after purchasing an additional 150,693 shares during the last quarter. 15.72% of the stock is owned by institutional investors.

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.