Tigo Energy (NASDAQ:TYGO) Director Sells $155,000.00 in Stock

Tigo Energy, Inc. (NASDAQ:TYGO) Director Joan Conley sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $3.10, for a total value of $155,000.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Tigo Energy Price Performance

Shares of NASDAQ:TYGO opened at $2.87 on Monday. Tigo Energy, Inc. has a 52-week low of $1.13 and a 52-week high of $5.33. The stock has a market cap of $217.86 million, a price-to-earnings ratio of 71.77 and a beta of 1.23. The business has a 50-day moving average price of $4.01 and a 200-day moving average price of $3.22.

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

Analysts Set New Price Targets

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

Institutional Trading of Tigo Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. AIGH Capital Management LLC purchased a new stake in shares of Tigo Energy in the first quarter valued at approximately $27,374,000. Renaissance Technologies LLC increased its position in shares of Tigo Energy by 46.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,425,040 shares of the company’s stock valued at $1,967,000 after buying an additional 449,140 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Tigo Energy by 182.4% in 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 in the last quarter. Walleye Capital LLC increased its position in shares of Tigo Energy by 25.2% in the first quarter. Walleye Capital LLC now owns 651,158 shares of the company’s stock valued at $2,448,000 after buying an additional 131,259 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Tigo Energy by 24.4% in the first quarter. Bank of America Corp DE now owns 471,036 shares of the company’s stock valued at $1,771,000 after buying an additional 92,412 shares in the last quarter. 15.72% of the stock is currently owned by hedge funds and other institutional investors.

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.