Tigo Energy (NASDAQ:TYGO) Downgraded by Wall Street Zen to Hold

Tigo Energy (NASDAQ:TYGO) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday.

Tigo Energy Price Performance

Shares of TYGO stock opened at $3.43 on Friday. The company’s fifty day moving average price is $3.18 and its two-hundred day moving average price is $2.37. The firm has a market capitalization of $241.95 million, a P/E ratio of -68.59 and a beta of 1.19. Tigo Energy has a 12 month low of $0.58 and a 12 month high of $4.50.

Tigo Energy (NASDAQ:TYGO) last announced its earnings results on Tuesday, February 24th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.20. Tigo Energy had a negative return on equity of 263.41% and a negative net margin of 1.82%.The company had revenue of $30.03 million during the quarter, compared to the consensus estimate of $30.02 million. On average, sell-side analysts anticipate that Tigo Energy will post -0.43 EPS for the current year.

Hedge Funds Weigh In On Tigo Energy

A number of institutional investors have recently made changes to their positions in TYGO. Renaissance Technologies LLC grew its position in shares of Tigo Energy by 46.0% during the fourth quarter. Renaissance Technologies LLC now owns 1,425,040 shares of the company’s stock worth $1,967,000 after buying an additional 449,140 shares in the last quarter. Vanguard Group Inc. raised its holdings in Tigo Energy by 182.4% in the third quarter. Vanguard Group Inc. now owns 922,226 shares of the company’s stock valued at $2,306,000 after acquiring an additional 595,702 shares in the last quarter. Walleye Capital LLC raised its holdings in Tigo Energy by 126.7% in the fourth quarter. Walleye Capital LLC now owns 519,899 shares of the company’s stock valued at $717,000 after acquiring an additional 290,544 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 acquiring an additional 21,211 shares during the last quarter. Finally, Marshall Wace LLP grew 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 worth $432,000 after acquiring an additional 150,693 shares in the last quarter. 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.