Short Interest in Tigo Energy, Inc. (NASDAQ:TYGO) Decreases By 19.5%

Tigo Energy, Inc. (NASDAQ:TYGO) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 136,000 shares, a drop of 19.5% from the February 13th total of 169,000 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average daily volume of 140,600 shares, the days-to-cover ratio is currently 1.0 days.

Tigo Energy Trading Down 3.0 %

NASDAQ TYGO opened at $0.89 on Tuesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.96 and a quick ratio of 1.60. The firm’s fifty day moving average price is $0.95 and its 200 day moving average price is $1.09. The company has a market capitalization of $54.07 million, a price-to-earnings ratio of -0.86 and a beta of 0.79. Tigo Energy has a 12 month low of $0.76 and a 12 month high of $1.85.

Tigo Energy (NASDAQ:TYGO) last posted its earnings results on Tuesday, February 11th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.29). Tigo Energy had a negative net margin of 116.17% and a negative return on equity of 142.03%. On average, sell-side analysts expect that Tigo Energy will post -0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Tigo Energy stock. Geode Capital Management LLC lifted its stake in Tigo Energy, Inc. (NASDAQ:TYGO) by 166.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 234,893 shares of the company’s stock after buying an additional 146,634 shares during the period. Geode Capital Management LLC owned approximately 0.39% of Tigo Energy worth $399,000 at the end of the most recent quarter. 15.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and issued a $3.00 price objective on shares of Tigo Energy in a 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.