Tigo Energy (NASDAQ:TYGO) Price Target Cut to $4.50

Tigo Energy (NASDAQ:TYGO) had its target price cut by Northland Securities from $4.80 to $4.50 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Northland Securities’ price target points to a potential upside of 240.91% from the company’s previous close.

A number of other analysts have also recently commented on TYGO. Roth Mkm upped their price objective on shares of Tigo Energy from $1.40 to $1.50 and gave the company a “neutral” rating in a research report on Thursday, May 16th. HC Wainwright lowered their price target on shares of Tigo Energy from $5.00 to $3.00 and set a “buy” rating on the stock in a report on Wednesday.

Tigo Energy Trading Down 8.3 %

NASDAQ:TYGO traded down $0.12 on Wednesday, hitting $1.32. 18,017 shares of the stock were exchanged, compared to its average volume of 61,251. The company has a current ratio of 6.24, a quick ratio of 2.31 and a debt-to-equity ratio of 0.62. Tigo Energy has a fifty-two week low of $0.86 and a fifty-two week high of $21.48. The stock has a market cap of $79.69 million, a PE ratio of -0.84 and a beta of 0.85. The stock has a fifty day moving average of $1.54 and a 200-day moving average of $1.34.

Tigo Energy (NASDAQ:TYGO) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.02). The firm had revenue of $12.70 million for the quarter, compared to analyst estimates of $13.91 million. Tigo Energy had a negative net margin of 18.48% and a negative return on equity of 61.94%. During the same quarter last year, the business posted $0.14 earnings per share. As a group, equities analysts expect that Tigo Energy will post -0.55 earnings per share for the current fiscal year.

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.