Tigo Energy, Inc. (NASDAQ:TYGO) Short Interest Update

Tigo Energy, Inc. (NASDAQ:TYGO) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 117,500 shares, an increase of 23.8% from the March 15th total of 94,900 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average daily trading volume, of 87,600 shares, the days-to-cover ratio is currently 1.3 days.

Tigo Energy Stock Performance

Shares of TYGO stock opened at $1.10 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.64 and a current ratio of 3.96. The firm has a fifty day simple moving average of $1.25 and a two-hundred day simple moving average of $2.17. Tigo Energy has a 12 month low of $0.86 and a 12 month high of $27.00.

Tigo Energy (NASDAQ:TYGO) last posted its earnings results on Tuesday, February 13th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.05). The firm had revenue of $9.25 million for the quarter, compared to the consensus estimate of $9.50 million. Analysts expect that Tigo Energy will post -0.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, HC Wainwright began coverage on Tigo Energy in a research report on Tuesday, February 27th. They issued a “buy” rating and a $5.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.05.

Insider Transactions at Tigo Energy

In related news, CEO Zvi Alon sold 19,606 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $1.47, for a total transaction of $28,820.82. Following the transaction, the chief executive officer now owns 173,913 shares in the company, valued at approximately $255,652.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 197,671 shares of company stock valued at $260,003 in the last quarter. 29.60% of the stock is currently owned by company insiders.

Institutional Trading of Tigo Energy

Several institutional investors and hedge funds have recently modified their holdings of TYGO. Osaic Holdings Inc. purchased a new position in shares of Tigo Energy during the second quarter valued at approximately $29,000. Northern Trust Corp lifted its stake in Tigo Energy by 121.5% during the 4th quarter. Northern Trust Corp now owns 29,609 shares of the company’s stock valued at $62,000 after acquiring an additional 16,242 shares in the last quarter. Charles Schwab Investment Management Inc. purchased a new position in Tigo Energy during the 3rd quarter worth $196,000. Geode Capital Management LLC bought a new stake in shares of Tigo Energy in the 2nd quarter worth $487,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Tigo Energy in the third quarter valued at about $1,052,000. 15.72% of the stock is owned by hedge funds and other institutional investors.

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.