Tomer Babai Sells 63,452 Shares of Tigo Energy (NASDAQ:TYGO) Stock

Tigo Energy, Inc. (NASDAQ:TYGO) Director Tomer Babai sold 63,452 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $4.15, for a total value of $263,325.80. Following the completion of the transaction, the director owned 214,450 shares of the company’s stock, valued at approximately $889,967.50. This trade represents a 22.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tigo Energy Trading Down 2.6%

TYGO traded down $0.11 during trading on Wednesday, reaching $4.10. The stock had a trading volume of 630,877 shares, compared to its average volume of 714,545. The stock’s 50 day moving average is $4.13 and its two-hundred day moving average is $3.07. The company has a market capitalization of $311.24 million, a price-to-earnings ratio of 102.53 and a beta of 1.32. Tigo Energy, Inc. has a one year low of $0.92 and a one year high of $5.33.

Tigo Energy (NASDAQ:TYGO) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.02). The business had revenue of $25.20 million during the quarter, compared to the consensus estimate of $25.76 million. Tigo Energy had a negative return on equity of 41.48% and a net margin of 3.07%. On average, equities research analysts predict that Tigo Energy, Inc. will post 0.04 earnings per share for the current year.

Institutional Investors Weigh In On Tigo Energy

Several institutional investors have recently modified their holdings of TYGO. JPMorgan Chase & Co. purchased a new stake in shares of Tigo Energy during the third quarter valued at $31,000. Vanguard Group Inc. boosted its position in shares of Tigo Energy by 182.4% during the third quarter. Vanguard Group Inc. now owns 922,226 shares of the company’s stock valued at $2,306,000 after buying an additional 595,702 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Tigo Energy during the third quarter valued at $63,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Tigo Energy during the third quarter valued at $443,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Tigo Energy during the third quarter valued at $431,000. 15.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TYGO shares. Roth Mkm reissued a “buy” rating and issued a $7.00 target price on shares of Tigo Energy in a research note on Wednesday, May 6th. Northland Securities set a $6.40 target price on Tigo Energy in a research note on Thursday, May 7th. Wall Street Zen cut Tigo Energy from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings raised Tigo Energy from a “sell (e+)” rating to a “sell (d+)” rating in a research note on Monday, May 18th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $6.47.

Tigo Energy Company Profile

Tigo Energy, Inc (NASDAQ: TYGO) is a U.S.-based provider of module-level power electronics (MLPE) solutions designed to optimize the performance and safety of solar photovoltaic systems. Founded in 2007 and headquartered in Campbell, California, Tigo Energy develops hardware and software tools that enhance energy yield, improve system reliability, and streamline compliance with electrical codes. The company’s technology platform is used by solar installers, project developers, and module manufacturers to deliver higher returns on investment and bolster the safety profile of PV arrays.

At the core of Tigo’s offerings is its TS4 platform, a modular MLPE solution that enables real-time monitoring, rapid shutdown functionality, and maximum power point tracking at the panel level.