Tigo Energy (NASDAQ:TYGO) Rating Lowered to Neutral at Roth Capital

Key Points

• Roth Capital downgraded Tigo Energy to “neutral” from “buy” and set a $1.30 price target, implying approximately 4% upside. The broader analyst consensus is “hold,” with an average target of $3.73.
• Tigo Energy’s stock opened at $1.25 and has fallen well below its 50-day and 200-day moving averages. In its latest quarter, the company reported adjusted earnings of $0.05 per share, beating estimates, but revenue of $25.41 million missed the $30.82 million consensus.
• Insiders sold 463,444 shares worth about $1.63 million over the past three months, while institutional investors own 15.72% of the company.

Tigo Energy (NASDAQ:TYGO - Get Free Report) was downgraded by investment analysts at Roth Capital from a "buy" rating to a "neutral" rating in a research report issued on Wednesday, Marketbeat Ratings reports. They currently have a $1.30 price objective on the stock. Roth Capital's target price points to a potential upside of 4.00% from the stock's current price.

A number of other equities research analysts have also commented on TYGO. Northland Securities set a $6.40 price objective on Tigo Energy in a research report on Thursday, May 7th. HC Wainwright lowered their price target on shares of Tigo Energy from $6.00 to $3.50 and set a "buy" rating on the stock in a report on Wednesday, August 5th. Wall Street Zen cut Tigo Energy from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Weiss Ratings raised Tigo Energy from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $3.73.

Tigo Energy Trading Up 5.9%

NASDAQ:TYGO opened at $1.25 on Wednesday. The stock has a fifty day simple moving average of $2.18 and a 200 day simple moving average of $3.28. The company has a quick ratio of 1.90, a current ratio of 3.04 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $94.89 million, a price-to-earnings ratio of 8.93 and a beta of 1.32. Tigo Energy has a 1-year low of $0.93 and a 1-year high of $5.33.

Tigo Energy (NASDAQ:TYGO - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The business had revenue of $25.41 million for the quarter, compared to the consensus estimate of $30.82 million. Tigo Energy had a net margin of 8.97% and a negative return on equity of 1.74%. Sell-side analysts forecast that Tigo Energy will post 0.01 earnings per share for the current 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 value of $155,000.00. Following the sale, the director directly owned 227,902 shares of the company's stock, valued at approximately $706,496.20. This trade represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sagit Manor sold 63,500 shares of the business's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $2.85, for a total value of $180,975.00. Following the transaction, the director directly owned 323,098 shares of the company's stock, valued at $920,829.30. This represents a 16.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 463,444 shares of company stock valued at $1,631,333 over the last three months. 26.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. acquired a new stake in Tigo Energy during the third quarter worth about $31,000. Vanguard Group Inc. lifted its position in shares of Tigo Energy by 182.4% in the 3rd quarter. Vanguard Group Inc. now owns 922,226 shares of the company's stock worth $2,306,000 after acquiring an additional 595,702 shares during the period. Two Sigma Investments LP bought a new stake in shares of Tigo Energy in the 3rd quarter worth approximately $431,000. Man Group plc acquired a new stake in shares of Tigo Energy during the 3rd quarter worth approximately $346,000. Finally, Virtu Financial LLC acquired a new stake in shares of Tigo Energy during the 3rd quarter worth approximately $34,000. Institutional investors 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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