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

Tigo Energy, Inc. (NASDAQ:TYGO) was the recipient of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 86,800 shares, a decrease of 36.2% from the February 28th total of 136,000 shares. Based on an average trading volume of 138,200 shares, the short-interest ratio is currently 0.6 days. Approximately 0.3% of the shares of the stock are sold short.

Institutional Investors Weigh In On Tigo Energy

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

Tigo Energy Stock Performance

TYGO stock opened at $0.86 on Friday. Tigo Energy has a fifty-two week low of $0.76 and a fifty-two week high of $1.85. 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 company has a market capitalization of $53.37 million, a P/E ratio of -0.83 and a beta of 0.79. The company has a 50-day simple moving average of $0.95 and a 200 day simple moving average of $1.07.

Tigo Energy (NASDAQ:TYGO) last released 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 142.03% and a negative net margin of 116.17%. Sell-side analysts predict that Tigo Energy will post -0.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and issued a $3.00 price objective on shares of Tigo Energy in a research report on Wednesday, February 12th.

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.