BlackRock Inc. Takes Position in Tigo Energy, Inc. $TYGO

Key Points

• BlackRock acquired 2.16 million Tigo Energy shares worth approximately $5.04 million, giving it a 2.85% stake. Institutional investors collectively own 15.72% of the company.
• Tigo Energy’s stock opened at $1.07, near its 12-month low of $0.93 and well below its 12-month high of $5.33. The company beat quarterly EPS estimates but reported revenue of $25.41 million, below the $30.82 million analyst consensus.
• Analyst sentiment is mixed but leans toward “Hold”: Roth Capital downgraded the stock to neutral, Wall Street Zen moved it to sell, and HC Wainwright retained a buy rating while cutting its price target. The consensus target is $3.73.

BlackRock Inc. acquired a new stake in Tigo Energy, Inc. (NASDAQ:TYGO - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,164,837 shares of the company's stock, valued at approximately $5,044,000. BlackRock Inc. owned about 2.85% of Tigo Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Walleye Capital LLC purchased a new stake in Tigo Energy in the second quarter valued at $29,000. JPMorgan Chase & Co. acquired a new position in shares of Tigo Energy in the 3rd quarter valued at $31,000. Scientech Research LLC purchased a new position in shares of Tigo Energy during the 3rd quarter worth $33,000. Virtu Financial LLC purchased a new position in shares of Tigo Energy during the 3rd quarter worth $34,000. Finally, Potomac Capital Management Inc. acquired a new stake in shares of Tigo Energy during the 4th quarter worth about $38,000. 15.72% of the stock is currently owned by hedge funds and other institutional investors.

Tigo Energy Price Performance

Tigo Energy stock opened at $1.07 on Friday. The company has a current ratio of 3.04, a quick ratio of 1.90 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $1.55 and a 200-day simple moving average of $2.99. The stock has a market cap of $81.22 million, a P/E ratio of 7.64 and a beta of 1.26. Tigo Energy, Inc. has a 12-month low of $0.93 and a 12-month high of $5.33.

Tigo Energy (NASDAQ:TYGO - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. Tigo Energy had a negative return on equity of 1.74% and a net margin of 8.97%.The firm had revenue of $25.41 million for the quarter, compared to analyst estimates of $30.82 million. Equities analysts expect that Tigo Energy, Inc. will post -0.01 EPS for the current fiscal year.

Insider Activity

In other news, Director Joan C. Conley sold 50,000 shares of the firm's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $3.10, for a total transaction of $155,000.00. Following the sale, the director owned 227,902 shares of the company's stock, valued at approximately $706,496.20. This trade represents a 17.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sagit Manor sold 63,500 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $2.85, for a total value of $180,975.00. Following the sale, the director owned 323,098 shares of the company's stock, valued at approximately $920,829.30. The trade was a 16.43% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 26.60% of the company's stock.

Analyst Ratings Changes

TYGO has been the subject of a number of recent analyst reports. Roth Capital cut shares of Tigo Energy from a "buy" rating to a "neutral" rating and set a $1.30 price target for the company. in a research report on Wednesday, August 12th. Weiss Ratings upgraded shares of Tigo Energy from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 6th. Wall Street Zen cut shares of Tigo Energy from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Finally, HC Wainwright dropped their target price on shares of Tigo Energy from $6.00 to $3.50 and set a "buy" rating for the company in a report on Wednesday, August 5th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $3.73.

Tigo Energy Company Profile

Tigo Energy, Inc NASDAQ: TYGO is a U.S.-based provider of module-level power electronics (MLPE) solutions designed to optimize the performance and safety of solar photovoltaic systems. Founded in 2007 and headquartered in Campbell, California, Tigo Energy develops hardware and software tools that enhance energy yield, improve system reliability, and streamline compliance with electrical codes. The company's technology platform is used by solar installers, project developers, and module manufacturers to deliver higher returns on investment and bolster the safety profile of PV arrays.

At the core of Tigo's offerings is its TS4 platform, a modular MLPE solution that enables real-time monitoring, rapid shutdown functionality, and maximum power point tracking at the panel level.

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