Short Interest in Tigo Energy, Inc. (NASDAQ:TYGO) Expands By 29.3%

Tigo Energy, Inc. (NASDAQ:TYGO) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 69,800 shares, an increase of 29.3% from the July 15th total of 54,000 shares. Based on an average trading volume of 39,700 shares, the short-interest ratio is currently 1.8 days. Currently, 0.2% of the shares of the company are sold short.

Tigo Energy Price Performance

Tigo Energy stock traded down $0.01 during midday trading on Friday, reaching $1.06. The company had a trading volume of 70,554 shares, compared to its average volume of 60,516. The company has a market capitalization of $63.99 million, a P/E ratio of -0.68 and a beta of 0.85. Tigo Energy has a 12-month low of $0.86 and a 12-month high of $11.69. The firm’s fifty day simple moving average is $1.48 and its 200-day simple moving average is $1.33. The company has a debt-to-equity ratio of 0.81, a current ratio of 5.37 and a quick ratio of 2.05.

Tigo Energy (NASDAQ:TYGO) last released its earnings results on Tuesday, August 6th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). Tigo Energy had a negative return on equity of 85.92% and a negative net margin of 17.49%. The business had revenue of $12.70 million during the quarter, compared to analysts’ expectations of $13.91 million. During the same period last year, the business earned $0.14 earnings per share. As a group, equities analysts anticipate that Tigo Energy will post -0.7 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on TYGO. HC Wainwright cut their target price on Tigo Energy from $5.00 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Roth Mkm increased their price target 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 cut their price target on Tigo Energy from $4.80 to $4.50 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th.

Tigo Energy Company Profile

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.