Tigo Energy (NASDAQ:TYGO) CEO Zvi Alon Sells 84,356 Shares

Tigo Energy, Inc. (NASDAQ:TYGO) CEO Zvi Alon sold 84,356 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $3.72, for a total value of $313,804.32. Following the completion of the sale, the chief executive officer owned 1,388,866 shares in the company, valued at approximately $5,166,581.52. This trade represents a 5.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Zvi Alon also recently made the following trade(s):

• On Wednesday, June 3rd, Zvi Alon sold 87,912 shares of Tigo Energy stock. The shares were sold at an average price of $3.52, for a total value of $309,450.24.
• On Monday, June 1st, Zvi Alon sold 42,167 shares of Tigo Energy stock. The stock was sold at an average price of $3.85, for a total transaction of $162,342.95.

Tigo Energy Stock Down 7.7%

Shares of TYGO stock opened at $3.47 on Thursday. The company’s fifty day simple moving average is $4.11 and its 200-day simple moving average is $3.15. The firm has a market cap of $263.41 million, a PE ratio of 86.77 and a beta of 1.23. Tigo Energy, Inc. has a 12 month low of $1.06 and a 12 month high of $5.33.

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

Analysts Set New Price Targets

Several research analysts recently commented on the company. Northland Securities set a $6.40 price target on Tigo Energy in a research report on Thursday, May 7th. Weiss Ratings raised Tigo Energy from a “sell (e+)” rating to a “sell (d+)” rating in a research report on Monday, May 18th. 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 reissued a “buy” rating and set a $7.00 price target on shares of Tigo Energy in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Tigo Energy has a consensus rating of “Hold” and a consensus target price of $6.47.

Institutional Trading of Tigo Energy

A number of large investors have recently added to or reduced their stakes in TYGO. AIGH Capital Management LLC acquired a new stake in Tigo Energy in the first quarter valued at $27,374,000. Vanguard Group Inc. lifted its stake in 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 acquiring an additional 595,702 shares during the last quarter. Renaissance Technologies LLC raised its stake in 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 during the period. Walleye Capital LLC raised its stake in Tigo Energy by 126.7% in the fourth quarter. Walleye Capital LLC now owns 519,899 shares of the company’s stock valued at $717,000 after buying an additional 290,544 shares during the period. Finally, AWM Investment Company Inc. bought a new stake in Tigo Energy in the fourth quarter valued at approximately $329,000. Institutional investors and hedge funds own 15.72% of the company’s stock.

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.