Tigo Energy, Inc. (NASDAQ:TYGO) Short Interest Update

Tigo Energy, Inc. (NASDAQ:TYGO - Get Free Report) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totalling 117,500 shares, a growth of 23.8% from the March 15th total of 94,900 shares. Approximately 0.5% of the company's shares are sold short. Based on an average daily volume of 87,600 shares, the days-to-cover ratio is currently 1.3 days.

Insider Activity

In other news, CEO Zvi Alon sold 35,506 shares of Tigo Energy stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $1.32, for a total transaction of $46,867.92. Following the sale, the chief executive officer now directly owns 173,913 shares of the company's stock, valued at $229,565.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 197,671 shares of company stock valued at $260,003. 29.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tigo Energy

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. bought a new stake in Tigo Energy in the third quarter worth approximately $1,246,000. DekaBank Deutsche Girozentrale bought a new stake in Tigo Energy in the third quarter worth approximately $1,052,000. Northern Trust Corp increased its holdings in Tigo Energy by 121.5% in the fourth quarter. Northern Trust Corp now owns 29,609 shares of the company's stock worth $62,000 after purchasing an additional 16,242 shares in the last quarter. Charles Schwab Investment Management Inc. bought a new stake in Tigo Energy in the third quarter worth approximately $196,000. Finally, Geode Capital Management LLC bought a new stake in Tigo Energy in the second quarter worth approximately $487,000. 15.72% of the stock is currently owned by institutional investors.

Tigo Energy Stock Down 2.7 %

Shares of TYGO traded down $0.03 during mid-day trading on Friday, reaching $1.10. 51,889 shares of the company were exchanged, compared to its average volume of 61,565. Tigo Energy has a 52 week low of $0.86 and a 52 week high of $27.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.96 and a quick ratio of 1.64. The business has a 50 day simple moving average of $1.25 and a two-hundred day simple moving average of $2.20.

Tigo Energy (NASDAQ:TYGO - Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.05). The firm had revenue of $9.25 million during the quarter, compared to the consensus estimate of $9.50 million. As a group, research analysts forecast that Tigo Energy will post -0.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, HC Wainwright started coverage on Tigo Energy in a research note on Tuesday, February 27th. They set a "buy" rating and a $5.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $7.05.

Tigo Energy Company Profile

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.