HC Wainwright Trims Tigo Energy (NASDAQ:TYGO) Target Price to $3.00

Tigo Energy (NASDAQ:TYGO) had its price objective trimmed by HC Wainwright from $5.00 to $3.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for Tigo Energy’s Q3 2024 earnings at ($0.19) EPS, Q4 2024 earnings at ($0.15) EPS, FY2024 earnings at ($0.73) EPS, FY2025 earnings at ($0.54) EPS, FY2026 earnings at ($0.15) EPS, FY2027 earnings at $0.04 EPS and FY2028 earnings at $0.21 EPS.

Separately, Roth Mkm raised their price target on Tigo Energy from $1.40 to $1.50 and gave the company a neutral rating in a report on Thursday, May 16th.

Tigo Energy Stock Performance

Tigo Energy stock traded down $0.03 during midday trading on Wednesday, reaching $1.26. 45,164 shares of the stock traded hands, compared to its average volume of 28,628. The firm has a fifty day moving average price of $1.53 and a two-hundred day moving average price of $1.34. Tigo Energy has a fifty-two week low of $0.86 and a fifty-two week high of $12.25. The firm has a market cap of $76.07 million, a price-to-earnings ratio of -0.81 and a beta of 0.85. The company has a current ratio of 6.24, a quick ratio of 2.31 and a debt-to-equity ratio of 0.62.

Tigo Energy (NASDAQ:TYGO) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.02). Tigo Energy had a negative return on equity of 79.38% and a negative net margin of 17.49%. The business had revenue of $12.70 million for the quarter, compared to analyst estimates of $13.91 million. During the same quarter in the prior year, the firm posted $0.14 earnings per share. On average, equities research analysts forecast that Tigo Energy will post -0.55 earnings per share for the current 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.