Tigo Energy (NASDAQ:TYGO) Director Sagit Manor Sells 63,500 Shares of Stock

Tigo Energy, Inc. (NASDAQ:TYGO) Director Sagit Manor sold 63,500 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $2.85, for a total value of $180,975.00. Following the transaction, the director directly owned 323,098 shares in the company, valued at $920,829.30. The trade was a 16.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tigo Energy Price Performance

NASDAQ TYGO opened at $2.84 on Tuesday. The business’s fifty day moving average price is $3.99 and its 200-day moving average price is $3.22. The stock has a market capitalization of $215.58 million, a price-to-earnings ratio of 71.02 and a beta of 1.23. Tigo Energy, Inc. has a 1-year low of $1.14 and a 1-year high of $5.33.

Tigo Energy (NASDAQ:TYGO) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.02) earnings per share for the quarter, meeting 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 for the quarter, compared to analysts’ expectations of $25.76 million. Equities research analysts anticipate that Tigo Energy, Inc. will post 0.04 EPS for the current year.

Institutional Investors Weigh In On Tigo Energy

A number of institutional investors have recently bought and sold shares of TYGO. JPMorgan Chase & Co. purchased a new stake in Tigo Energy in the 3rd quarter worth $31,000. Vanguard Group Inc. increased its stake in Tigo Energy by 182.4% in the 3rd quarter. Vanguard Group Inc. now owns 922,226 shares of the company’s stock worth $2,306,000 after buying an additional 595,702 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Tigo Energy in the 3rd quarter worth $63,000. Hillsdale Investment Management Inc. purchased a new stake in Tigo Energy in the 3rd quarter worth $443,000. Finally, Two Sigma Investments LP purchased a new stake in Tigo Energy in the 3rd quarter worth $431,000. Hedge funds and other institutional investors own 15.72% of the company’s stock.

Analyst Upgrades and Downgrades

TYGO has been the subject of several recent research reports. Wall Street Zen lowered Tigo Energy from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings raised Tigo Energy from a “sell (e+)” rating to a “sell (d+)” rating in a report on Monday, May 18th. Roth Mkm reissued a “buy” rating and set a $7.00 price target on shares of Tigo Energy in a report on Wednesday, May 6th. Finally, Northland Securities set a $6.40 price target on Tigo Energy in a report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Tigo Energy presently has a consensus rating of “Hold” and an average target price of $6.47.

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.