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

Tigo Energy, Inc. (NASDAQ:TYGO) saw a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 61,000 shares, a decrease of 26.2% from the December 15th total of 82,600 shares. Based on an average daily volume of 108,500 shares, the short-interest ratio is presently 0.6 days. Currently, 0.2% of the shares of the stock are sold short.

Tigo Energy Price Performance

NASDAQ:TYGO traded down $0.02 during trading hours on Thursday, reaching $0.83. The company had a trading volume of 36,211 shares, compared to its average volume of 590,953. The company has a quick ratio of 1.60, a current ratio of 3.96 and a debt-to-equity ratio of 1.14. The stock has a 50-day moving average of $0.94 and a two-hundred day moving average of $1.23. Tigo Energy has a one year low of $0.76 and a one year high of $2.12. The firm has a market capitalization of $50.24 million, a PE ratio of -0.97 and a beta of 0.76.

Tigo Energy (NASDAQ:TYGO) last announced its earnings results on Wednesday, November 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.05). The firm had revenue of $14.24 million for the quarter, compared to analyst estimates of $13.92 million. Tigo Energy had a negative return on equity of 103.85% and a negative net margin of 110.29%. During the same quarter last year, the business earned ($0.89) EPS. Analysts forecast that Tigo Energy will post -0.78 earnings per share for the current year.

Hedge Funds Weigh In On Tigo Energy

An institutional investor recently raised its position in Tigo Energy stock. Geode Capital Management LLC grew its holdings in Tigo Energy, Inc. (NASDAQ:TYGO) by 166.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 234,893 shares of the company’s stock after purchasing an additional 146,634 shares during the quarter. Geode Capital Management LLC owned approximately 0.39% of Tigo Energy worth $399,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 15.72% of the company’s stock.

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.