HC Wainwright Cuts Tigo Energy (NASDAQ:TYGO) Price Target to $3.50

Key Points

• HC Wainwright lowered Tigo Energy’s price target to $3.50 from $6.00 while maintaining a “buy” rating, implying roughly 72% upside from the $2.04 share price.
• Analyst sentiment remains cautiously positive, with an overall “Moderate Buy” rating and average price target of $5.63, although other firms have issued targets ranging from $6.40 to $7.00 and one downgraded the stock to “hold.”
• Tigo reported quarterly revenue of $25.20 million and an adjusted loss of $0.02 per share, matching EPS expectations but falling slightly short of revenue estimates; insiders have sold 463,444 shares worth about $1.63 million over the past three months.

Tigo Energy (NASDAQ:TYGO - Get Free Report) had its target price cut by investment analysts at HC Wainwright from $6.00 to $3.50 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price target suggests a potential upside of 71.57% from the company's current price.

Other analysts have also recently issued research reports about the company. Northland Securities set a $6.40 price objective on Tigo Energy in a research note on Thursday, May 7th. Wall Street Zen lowered Tigo Energy from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings upgraded Tigo Energy from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, July 20th. Finally, Roth Capital restated a "buy" rating and set a $7.00 price objective on shares of Tigo Energy in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $5.63.

Tigo Energy Price Performance

Shares of TYGO stock opened at $2.04 on Wednesday. The firm has a market cap of $154.86 million, a P/E ratio of 51.01 and a beta of 1.32. Tigo Energy has a 1-year low of $1.21 and a 1-year high of $5.33. The firm has a fifty day moving average of $2.45 and a two-hundred day moving average of $3.35.

Tigo Energy (NASDAQ:TYGO - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.02). The business had revenue of $25.20 million for the quarter, compared to analyst estimates of $25.76 million. Tigo Energy had a net margin of 3.07% and a negative return on equity of 41.48%. On average, sell-side analysts expect that Tigo Energy will post 0.04 EPS for the current year.

Insider Buying and Selling at Tigo Energy

In other news, Director Sagit Manor sold 63,500 shares of the company'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 transaction of $180,975.00. Following the completion of the transaction, the director directly owned 323,098 shares of the company's stock, valued at approximately $920,829.30. This represents a 16.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Joan C. Conley sold 50,000 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $3.10, for a total value of $155,000.00. Following the sale, the director owned 227,902 shares in the company, valued at $706,496.20. The trade was a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 463,444 shares of company stock worth $1,631,333. Insiders own 26.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AIGH Capital Management LLC acquired a new stake in Tigo Energy in the first quarter worth $27,374,000. Quadrature Capital Ltd boosted its holdings in shares of Tigo Energy by 148.1% during the fourth quarter. Quadrature Capital Ltd now owns 77,187 shares of the company's stock valued at $107,000 after acquiring an additional 46,074 shares during the period. Walleye Capital LLC boosted its holdings in shares of Tigo Energy by 126.7% during the fourth quarter. Walleye Capital LLC now owns 519,899 shares of the company's stock valued at $717,000 after acquiring an additional 290,544 shares during the period. Marshall Wace LLP grew its position in shares of Tigo Energy by 92.9% during the fourth quarter. Marshall Wace LLP now owns 312,968 shares of the company's stock worth $432,000 after acquiring an additional 150,693 shares during the last quarter. Finally, Two Sigma Investments LP bought a new position in shares of Tigo Energy during the third quarter worth about $431,000. Institutional investors and hedge funds own 15.72% of the company's stock.

About Tigo Energy

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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