Tigo Energy, Inc. (NASDAQ:TYGO) Short Interest Up 179.3% in September

Tigo Energy, Inc. (NASDAQ:TYGO) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totalling 67,300 shares, an increase of 179.3% from the September 15th total of 24,100 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily volume of 33,000 shares, the short-interest ratio is presently 2.0 days.

Tigo Energy Trading Down 3.0 %

Shares of TYGO traded down $0.04 during trading hours on Friday, hitting $1.28. 46,055 shares of the stock traded hands, compared to its average volume of 55,066. The business has a fifty day moving average of $1.34 and a 200-day moving average of $1.34. The firm has a market capitalization of $77.41 million, a PE ratio of -1.42 and a beta of 0.86. Tigo Energy has a 1-year low of $0.86 and a 1-year high of $4.48. The company has a current ratio of 5.37, a quick ratio of 2.05 and a debt-to-equity ratio of 0.81.

Tigo Energy (NASDAQ:TYGO) last issued its earnings results on Tuesday, August 6th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.02). The business had revenue of $12.70 million for the quarter, compared to the consensus estimate of $13.91 million. Tigo Energy had a negative net margin of 17.49% and a negative return on equity of 85.92%. During the same quarter in the previous year, the firm posted $0.14 EPS. Analysts expect that Tigo Energy will post -0.7 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. HC Wainwright cut their price target on shares of Tigo Energy from $5.00 to $3.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Northland Securities cut their price objective on Tigo Energy from $4.80 to $4.50 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th.

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.