Tigo Energy (NASDAQ:TYGO) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Tigo Energy (NASDAQ:TYGO) released its earnings results on Tuesday. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.02), Zacks reports. The firm had revenue of $12.70 million during the quarter, compared to analyst estimates of $13.91 million. Tigo Energy had a negative return on equity of 61.94% and a negative net margin of 18.48%. During the same quarter last year, the business posted $0.14 EPS. Tigo Energy updated its Q3 2024 guidance to EPS.

Tigo Energy Trading Down 8.3 %

Shares of Tigo Energy stock traded down $0.12 during mid-day trading on Wednesday, hitting $1.32. 18,017 shares of the stock were exchanged, compared to its average volume of 61,251. Tigo Energy has a twelve month low of $0.86 and a twelve month high of $21.48. The stock has a market capitalization of $79.69 million, a price-to-earnings ratio of -0.84 and a beta of 0.85. The company has a 50-day simple moving average of $1.54 and a 200 day simple moving average of $1.34. The company has a current ratio of 6.24, a quick ratio of 2.31 and a debt-to-equity ratio of 0.62.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TYGO. HC Wainwright cut their price target on shares of Tigo Energy from $5.00 to $3.00 and set a “buy” rating for the company in a report on Wednesday. Northland Securities dropped their target price on shares of Tigo Energy from $4.80 to $4.50 and set an “outperform” rating for the company in a report on Wednesday. Finally, Roth Mkm raised their target price on shares of Tigo Energy from $1.40 to $1.50 and gave the company a “neutral” rating in a report on Thursday, May 16th.

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.