Tigo Energy, Inc. (NASDAQ:TYGO) Sees Significant Drop in Short Interest

Tigo Energy, Inc. (NASDAQ:TYGO - Get Free Report) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 86,800 shares, a decline of 36.2% from the February 28th total of 136,000 shares. Based on an average daily volume of 138,200 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.3% of the company's stock are short sold.

Tigo Energy Stock Performance

TYGO traded up $0.03 on Wednesday, hitting $0.86. The company had a trading volume of 23,423 shares, compared to its average volume of 60,904. Tigo Energy has a 1-year low of $0.76 and a 1-year high of $1.85. The company has a debt-to-equity ratio of 1.14, a current ratio of 3.96 and a quick ratio of 1.60. The company's fifty day moving average price is $0.95 and its 200 day moving average price is $1.06. The stock has a market cap of $52.94 million, a price-to-earnings ratio of -0.82 and a beta of 0.79.

Tigo Energy (NASDAQ:TYGO - Get Free Report) last announced its earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.29). Tigo Energy had a negative net margin of 116.17% and a negative return on equity of 142.03%. Equities analysts predict that Tigo Energy will post -0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Tigo Energy stock. Geode Capital Management LLC increased its stake in shares of Tigo Energy, Inc. (NASDAQ:TYGO - Free Report) by 166.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 234,893 shares of the company's stock after buying an additional 146,634 shares during the quarter. Geode Capital Management LLC owned 0.39% of Tigo Energy worth $399,000 at the end of the most recent reporting period. 15.72% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a "buy" rating and set a $3.00 price objective on shares of Tigo Energy in a research report on Wednesday, February 12th.

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.