Short Interest in Tigo Energy, Inc. (NASDAQ:TYGO) Decreases By 24.9%

Tigo Energy, Inc. (NASDAQ:TYGO - Get Free Report) was the recipient of a significant drop in short interest in April. As of April 30th, there was short interest totalling 93,200 shares, a drop of 24.9% from the April 15th total of 124,100 shares. Based on an average trading volume of 78,400 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.3% of the company's stock are sold short.

Tigo Energy Price Performance

TYGO stock traded down $0.02 during midday trading on Friday, hitting $1.08. The stock had a trading volume of 18,230 shares, compared to its average volume of 32,026. Tigo Energy has a 52 week low of $0.86 and a 52 week high of $27.00. The company has a quick ratio of 1.64, a current ratio of 3.96 and a debt-to-equity ratio of 0.50. The stock has a 50-day simple moving average of $1.08 and a 200 day simple moving average of $1.60.

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

Insider Activity at Tigo Energy

In other news, CEO Zvi Alon sold 35,506 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $1.32, for a total transaction of $46,867.92. Following the transaction, the chief executive officer now owns 173,913 shares in the company, valued at approximately $229,565.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 197,671 shares of company stock valued at $260,003. 26.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Tigo Energy

An institutional investor recently bought a new position in Tigo Energy stock. DekaBank Deutsche Girozentrale purchased a new stake in shares of Tigo Energy, Inc. (NASDAQ:TYGO - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 150,000 shares of the company's stock, valued at approximately $1,052,000. DekaBank Deutsche Girozentrale owned about 0.26% of Tigo Energy at the end of the most recent reporting period. Institutional investors own 15.72% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright initiated coverage on shares of Tigo Energy in a research report on Tuesday, February 27th. They issued a "buy" rating and a $5.00 price target on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Tigo Energy presently has an average 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.