Tigo Energy (NASDAQ:TYGO) Director Sells $180,975.00 in Stock

Tigo Energy, Inc. (NASDAQ:TYGO) Director Sagit Manor sold 63,500 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $2.85, for a total transaction of $180,975.00. Following the sale, the director owned 323,098 shares in the company, valued at $920,829.30. This trade represents a 16.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tigo Energy Stock Performance

Shares of TYGO stock traded down $0.03 during midday trading on Monday, reaching $2.84. 755,009 shares of the company were exchanged, compared to its average volume of 662,613. Tigo Energy, Inc. has a 12 month low of $1.14 and a 12 month high of $5.33. The company has a market cap of $215.58 million, a P/E ratio of 71.02 and a beta of 1.23. The company’s 50 day moving average price is $3.99 and its two-hundred day moving average price is $3.22.

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

Institutional Investors Weigh In On Tigo Energy

A number of large investors have recently made changes to their positions in the company. Bank of America Corp DE raised its holdings in shares of Tigo Energy by 24.4% during the first quarter. Bank of America Corp DE now owns 471,036 shares of the company’s stock valued at $1,771,000 after acquiring an additional 92,412 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Tigo Energy during the first quarter valued at approximately $478,000. Sei Investments Co. acquired a new stake in shares of Tigo Energy during the first quarter valued at approximately $107,000. Walleye Capital LLC raised its holdings in shares of Tigo Energy by 25.2% during the first quarter. Walleye Capital LLC now owns 651,158 shares of the company’s stock valued at $2,448,000 after acquiring an additional 131,259 shares during the period. Finally, AIGH Capital Management LLC acquired a new stake in shares of Tigo Energy during the first quarter valued at approximately $27,374,000. Institutional investors and hedge funds own 15.72% of the company’s stock.

Wall Street Analysts Forecast Growth

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