HC Wainwright Reaffirms “Buy” Rating for Tigo Energy (NASDAQ:TYGO)

Tigo Energy (NASDAQ:TYGO)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They presently have a $3.00 price target on the stock. HC Wainwright’s price objective points to a potential upside of 200.00% from the company’s previous close.

Tigo Energy Stock Up 1.0 %

Shares of NASDAQ TYGO opened at $1.00 on Wednesday. Tigo Energy has a 52-week low of $0.76 and a 52-week high of $2.12. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.60 and a current ratio of 3.96. The stock has a market cap of $60.74 million, a P/E ratio of -1.18 and a beta of 0.77. The firm has a 50 day moving average price of $0.94 and a 200 day moving average price of $1.15.

Tigo Energy (NASDAQ:TYGO) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.29). Tigo Energy had a negative net margin of 110.29% and a negative return on equity of 103.85%. Analysts expect that Tigo Energy will post -0.78 EPS for the current year.

Hedge Funds Weigh In On Tigo Energy

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

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.