Tigo Energy (NASDAQ:TYGO) Stock Price Down 5.2% - Here's What Happened

Tigo Energy, Inc. (NASDAQ:TYGO - Get Free Report) was down 5.2% during mid-day trading on Monday . The company traded as low as $0.84 and last traded at $0.84. Approximately 15,050 shares traded hands during trading, a decline of 92% from the average daily volume of 186,794 shares. The stock had previously closed at $0.89.

Wall Street Analysts Forecast Growth

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

Tigo Energy Price Performance

The company has a 50 day simple moving average of $0.96 and a 200-day simple moving average of $1.10. The stock has a market cap of $52.15 million, a price-to-earnings ratio of -0.83 and a beta of 0.79. The company has a current ratio of 3.96, a quick ratio of 1.60 and a debt-to-equity ratio of 1.14.

Tigo Energy (NASDAQ:TYGO - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.44) earnings per share for the quarter, missing analysts' consensus estimates 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%. Research analysts expect that Tigo Energy, Inc. will post -0.43 EPS for the current year.

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Institutional Inflows and Outflows

An institutional investor recently raised its position in Tigo Energy stock. Geode Capital Management LLC boosted its position in Tigo Energy, Inc. (NASDAQ:TYGO - Free Report) by 166.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 234,893 shares of the company's stock after purchasing an additional 146,634 shares during the period. Geode Capital Management LLC owned about 0.39% of Tigo Energy worth $399,000 as of its most recent filing with the SEC. 15.72% of the stock is currently owned by hedge funds and other institutional investors.

About Tigo Energy

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.