Tigo Energy FY2024 EPS Forecast Reduced by HC Wainwright

Tigo Energy, Inc. (NASDAQ:TYGO) – Investment analysts at HC Wainwright lowered their FY2024 earnings estimates for shares of Tigo Energy in a research note issued on Thursday, November 7th. HC Wainwright analyst A. Dayal now anticipates that the company will post earnings of ($0.80) per share for the year, down from their prior estimate of ($0.73). HC Wainwright currently has a “Buy” rating and a $3.00 target price on the stock. The consensus estimate for Tigo Energy’s current full-year earnings is ($0.71) per share. HC Wainwright also issued estimates for Tigo Energy’s Q4 2024 earnings at ($0.21) EPS, FY2025 earnings at ($0.65) EPS, FY2026 earnings at ($0.24) EPS, FY2027 earnings at ($0.10) EPS and FY2028 earnings at $0.05 EPS.

Tigo Energy (NASDAQ:TYGO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.05). Tigo Energy had a negative return on equity of 93.99% and a negative net margin of 110.29%. The firm had revenue of $14.24 million for the quarter, compared to the consensus estimate of $13.92 million. During the same period last year, the firm earned ($0.89) EPS.

Separately, Northland Securities reduced their price target on shares of 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 Stock Performance

Shares of NASDAQ TYGO opened at $1.10 on Monday. The stock’s 50-day moving average is $1.34 and its 200 day moving average is $1.37. The stock has a market cap of $66.82 million, a price-to-earnings ratio of -1.26 and a beta of 0.92. Tigo Energy has a 1-year low of $0.86 and a 1-year high of $3.48. The company has a current ratio of 5.37, a quick ratio of 2.05 and a debt-to-equity ratio of 0.81.

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.