Tigo Energy (NASDAQ:TYGO) Stock Price Down 0.6% – Should You Sell?

Tigo Energy, Inc. (NASDAQ:TYGO) dropped 0.6% during trading on Thursday . The stock traded as low as $3.11 and last traded at $3.44. Approximately 1,182,851 shares traded hands during trading, an increase of 24% from the average daily volume of 955,592 shares. The stock had previously closed at $3.46.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Tigo Energy in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Tigo Energy presently has a consensus rating of “Hold” and an average price target of $4.50.

Tigo Energy Stock Down 0.6%

The stock has a fifty day moving average price of $1.79 and a two-hundred day moving average price of $1.80. The company has a market cap of $242.00 million, a price-to-earnings ratio of -5.29 and a beta of 1.20.

Tigo Energy (NASDAQ:TYGO) last issued its quarterly earnings data on Tuesday, October 28th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. Tigo Energy had a negative net margin of 44.50% and a negative return on equity of 623.75%. The business had revenue of $30.61 million during the quarter, compared to analysts’ expectations of $29.60 million. Analysts predict that Tigo Energy, Inc. will post -0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tigo Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TYGO. JPMorgan Chase & Co. acquired a new position in Tigo Energy in the third quarter valued at about $31,000. Scientech Research LLC bought a new position in Tigo Energy in the 3rd quarter valued at about $33,000. Virtu Financial LLC acquired a new position in shares of Tigo Energy in the 3rd quarter valued at approximately $34,000. NewEdge Advisors LLC lifted its holdings in shares of Tigo Energy by 137.7% during the 3rd quarter. NewEdge Advisors LLC now owns 36,162 shares of the company’s stock worth $90,000 after acquiring an additional 20,950 shares during the period. Finally, Centiva Capital LP acquired a new stake in shares of Tigo Energy during the 3rd quarter worth approximately $59,000. 15.72% of the stock is owned by institutional investors and hedge funds.

About Tigo Energy

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.