Tigo Energy (NASDAQ:TYGO) Price Target Cut to $3.00 by Analysts at HC Wainwright

Tigo Energy (NASDAQ:TYGO) had its target price reduced by HC Wainwright from $5.00 to $3.00 in a research note released on Wednesday, Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Tigo Energy’s Q3 2024 earnings at ($0.19) EPS, Q4 2024 earnings at ($0.15) EPS, FY2024 earnings at ($0.73) EPS, FY2025 earnings at ($0.54) EPS, FY2026 earnings at ($0.15) EPS, FY2027 earnings at $0.04 EPS and FY2028 earnings at $0.21 EPS.

Separately, Roth Mkm raised their price target on shares of Tigo Energy from $1.40 to $1.50 and gave the company a neutral rating in a report on Thursday, May 16th.

Tigo Energy Price Performance

Shares of NASDAQ TYGO traded down $0.03 during mid-day trading on Wednesday, hitting $1.26. 45,164 shares of the stock were exchanged, compared to its average volume of 28,628. Tigo Energy has a twelve month low of $0.86 and a twelve month high of $12.25. The stock’s fifty day simple moving average is $1.53 and its two-hundred day simple moving average is $1.34. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.31 and a current ratio of 6.24. The company has a market cap of $76.07 million, a P/E ratio of -0.81 and a beta of 0.85.

Tigo Energy (NASDAQ:TYGO) last issued its quarterly earnings data 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). Tigo Energy had a negative net margin of 17.49% and a negative return on equity of 79.38%. The business had revenue of $12.70 million during the quarter, compared to the consensus estimate of $13.91 million. During the same quarter in the previous year, the firm posted $0.14 EPS. As a group, analysts forecast that Tigo Energy will post -0.55 EPS 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.