Tigo Energy, Inc. (NASDAQ:TYGO) Sees Significant Decline in Short Interest

Tigo Energy, Inc. (NASDAQ:TYGO) saw a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 169,700 shares, a decrease of 20.6% from the January 15th total of 213,800 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average daily trading volume, of 141,500 shares, the short-interest ratio is currently 1.2 days.

Tigo Energy Stock Down 1.9 %

Shares of Tigo Energy stock traded down $0.02 on Friday, hitting $1.02. 58,765 shares of the company’s stock traded hands, compared to its average volume of 123,883. The company has a quick ratio of 1.60, a current ratio of 3.96 and a debt-to-equity ratio of 1.14. The firm’s 50-day moving average is $0.95 and its 200 day moving average is $1.14. The stock has a market cap of $61.95 million, a P/E ratio of -1.20 and a beta of 0.77. Tigo Energy has a 52-week low of $0.76 and a 52-week high of $2.12.

Tigo Energy (NASDAQ:TYGO) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.29). Tigo Energy had a negative return on equity of 103.85% and a negative net margin of 110.29%. Equities analysts anticipate that Tigo Energy will post -0.78 earnings per share for the current year.

Institutional Trading of Tigo Energy

A hedge fund recently raised its stake in Tigo Energy stock. Geode Capital Management LLC grew its position in Tigo Energy, Inc. (NASDAQ:TYGO) by 166.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 234,893 shares of the company’s stock after acquiring an additional 146,634 shares during the quarter. Geode Capital Management LLC owned approximately 0.39% of Tigo Energy worth $399,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 15.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $3.00 target price on shares of Tigo Energy in a research report on Wednesday.

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.