Brokers Set Expectations for Tigo Energy FY2024 Earnings

Tigo Energy, Inc. (NASDAQ:TYGO) – Stock analysts at HC Wainwright cut their FY2024 earnings estimates for Tigo Energy in a research note issued to investors on Thursday, November 7th. HC Wainwright analyst A. Dayal now anticipates that the company will post earnings of ($0.80) per share for the year, down from their prior estimate of ($0.73). HC Wainwright has a “Buy” rating and a $3.00 price target on the stock. The consensus estimate for Tigo Energy’s current full-year earnings is ($0.71) per share. HC Wainwright also issued estimates for Tigo Energy’s Q4 2024 earnings at ($0.21) EPS, FY2025 earnings at ($0.65) EPS, FY2026 earnings at ($0.24) EPS, FY2027 earnings at ($0.10) EPS and FY2028 earnings at $0.05 EPS.

Tigo Energy (NASDAQ:TYGO) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.05). The firm had revenue of $14.24 million during the quarter, compared to analyst estimates of $13.92 million. Tigo Energy had a negative return on equity of 93.99% and a negative net margin of 110.29%. During the same quarter in the prior year, the company earned ($0.89) EPS.

Separately, Northland Securities decreased their price objective on shares of Tigo Energy from $4.80 to $4.50 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th.

Tigo Energy Price Performance

Tigo Energy stock opened at $1.08 on Monday. Tigo Energy has a fifty-two week low of $0.86 and a fifty-two week high of $3.48. The firm has a market capitalization of $65.60 million, a price-to-earnings ratio of -1.27 and a beta of 0.92. The stock’s fifty day moving average is $1.34 and its two-hundred day moving average is $1.36. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.05 and a current ratio of 5.37.

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.