Tigo Energy (NASDAQ:TYGO) Director Joan Conley Sells 50,000 Shares of Stock

Tigo Energy, Inc. (NASDAQ:TYGO) Director Joan Conley sold 50,000 shares of Tigo Energy stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $3.10, for a total transaction of $155,000.00. Following the sale, the director owned 227,902 shares of the company’s stock, valued at approximately $706,496.20. The trade was a 17.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Tigo Energy Trading Down 2.0%

Shares of NASDAQ TYGO opened at $2.87 on Friday. Tigo Energy, Inc. has a 12 month low of $1.13 and a 12 month high of $5.33. The company has a 50 day simple moving average of $4.01 and a two-hundred day simple moving average of $3.21. The stock has a market cap of $217.86 million, a price-to-earnings ratio of 71.77 and a beta of 1.23.

Tigo Energy (NASDAQ:TYGO) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). Tigo Energy had a net margin of 3.07% and a negative return on equity of 41.48%. The business had revenue of $25.20 million during the quarter, compared to analysts’ expectations of $25.76 million. Analysts forecast that Tigo Energy, Inc. will post 0.04 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Tigo Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. purchased a new stake in Tigo Energy in the 3rd quarter worth $31,000. Scientech Research LLC purchased a new stake in Tigo Energy in the 3rd quarter worth $33,000. Virtu Financial LLC purchased a new stake in Tigo Energy in the 3rd quarter worth $34,000. Potomac Capital Management Inc. purchased a new stake in Tigo Energy in the 4th quarter worth $38,000. Finally, Centiva Capital LP purchased a new stake in Tigo Energy in the 3rd quarter worth $59,000. Hedge funds and other institutional investors own 15.72% of the company’s stock.

About Tigo Energy

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.