Tigo Energy, Inc. (NASDAQ:TYGO) Short Interest Up 947.7% in July

Key Points

• Tigo Energy, Inc. experienced a dramatic increase in short interest in July, rising by 947.7% to 621,300 shares, representing approximately 2.1% of total shares.
• The company reported earnings of ($0.07) per share for the last quarter, exceeding analyst expectations and generating $24.06 million in revenue.
• Analysts have given Tigo Energy a buy rating, with price targets increased from $3.00 to $6.00, suggesting positive market sentiment.

Tigo Energy, Inc. (NASDAQ:TYGO - Get Free Report) was the recipient of a significant growth in short interest in July. As of July 31st, there was short interest totaling 621,300 shares, agrowthof947.7% from the July 15th total of 59,300 shares. Based on an average trading volume of 847,600 shares, the short-interest ratio is currently 0.7 days. Currently,2.1% of the company's shares are sold short. Currently,2.1% of the company's shares are sold short. Based on an average trading volume of 847,600 shares, the short-interest ratio is currently 0.7 days.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Roth Capital raised shares of Tigo Energy from a "neutral" rating to a "buy" rating and set a $3.00 price target for the company in a research note on Thursday, July 31st. HC Wainwright upped their price target on Tigo Energy from $3.00 to $6.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th.

Tigo Energy Stock Down 1.6%

Shares of TYGO traded down $0.02 during trading hours on Friday, reaching $1.25. 247,666 shares of the company traded hands, compared to its average volume of 2,687,393. Tigo Energy has a 12-month low of $0.58 and a 12-month high of $1.80. The stock has a market capitalization of $82.18 million, a P/E ratio of -1.49 and a beta of 0.99. The business has a fifty day moving average price of $1.28 and a 200-day moving average price of $1.04.

Tigo Energy (NASDAQ:TYGO - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.02. Tigo Energy had a negative net margin of 69.01% and a negative return on equity of 434.06%. The company had revenue of $24.06 million for the quarter, compared to analyst estimates of $21.48 million. As a group, research analysts predict that Tigo Energy will post -0.43 EPS for the current fiscal year.

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.