Tigo Energy (NASDAQ:TYGO) Announces Quarterly Earnings Results

Tigo Energy (NASDAQ:TYGO) released its quarterly earnings data on Tuesday. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02), Zacks reports. The business had revenue of $12.70 million during the quarter, compared to analysts’ expectations 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 in the previous year, the company posted $0.14 EPS. Tigo Energy updated its Q3 2024 guidance to EPS.

Tigo Energy Price Performance

Shares of TYGO traded down $0.02 during mid-day trading on Friday, hitting $1.27. The company’s stock had a trading volume of 828 shares, compared to its average volume of 60,676. The company has a current ratio of 6.24, a quick ratio of 2.31 and a debt-to-equity ratio of 0.62. The firm has a 50-day simple moving average of $1.54 and a 200 day simple moving average of $1.34. The firm has a market capitalization of $76.67 million, a P/E ratio of -0.83 and a beta of 0.85. Tigo Energy has a 1-year low of $0.86 and a 1-year high of $12.25.

Wall Street Analysts Forecast Growth

TYGO has been the topic of a number of research reports. HC Wainwright dropped their price target on Tigo Energy from $5.00 to $3.00 and set a “buy” rating on the stock in a research note on Wednesday. Roth Mkm increased their price objective on Tigo Energy from $1.40 to $1.50 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. Finally, Northland Securities decreased their price objective on Tigo Energy from $4.80 to $4.50 and set an “outperform” rating for the company 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.