Tigo Energy (NASDAQ:TYGO) CEO Zvi Alon Sells 87,912 Shares

Tigo Energy, Inc. (NASDAQ:TYGO) CEO Zvi Alon sold 87,912 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $3.52, for a total value of $309,450.24. Following the completion of the sale, the chief executive officer owned 1,311,373 shares of the company’s stock, valued at $4,616,032.96. This trade represents a 6.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, June 1st, Zvi Alon sold 42,167 shares of Tigo Energy stock. The shares were sold at an average price of $3.85, for a total value of $162,342.95.
• On Tuesday, June 2nd, Zvi Alon sold 84,356 shares of Tigo Energy stock. The stock was sold at an average price of $3.72, for a total value of $313,804.32.

Tigo Energy Stock Down 7.7%

Shares of Tigo Energy stock opened at $3.47 on Thursday. The firm has a market cap of $263.41 million, a price-to-earnings ratio of 86.77 and a beta of 1.23. The business has a fifty day simple moving average of $4.11 and a 200-day simple moving average of $3.15. Tigo Energy, Inc. has a fifty-two week low of $1.06 and a fifty-two week high of $5.33.

Tigo Energy (NASDAQ:TYGO) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.02) EPS for the quarter, hitting 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 firm had revenue of $25.20 million for the quarter, compared to analysts’ expectations of $25.76 million. Analysts anticipate that Tigo Energy, Inc. will post 0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tigo Energy

Institutional investors have recently modified their holdings of the stock. AIGH Capital Management LLC acquired a new stake in Tigo Energy during the first quarter valued at $27,374,000. Renaissance Technologies LLC boosted its holdings in Tigo Energy by 46.0% during the fourth quarter. Renaissance Technologies LLC now owns 1,425,040 shares of the company’s stock valued at $1,967,000 after acquiring an additional 449,140 shares during the period. Vanguard Group Inc. boosted its stake in Tigo Energy by 182.4% during the 3rd quarter. Vanguard Group Inc. now owns 922,226 shares of the company’s stock valued at $2,306,000 after purchasing an additional 595,702 shares during the period. Walleye Capital LLC grew its stake 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 worth $2,448,000 after acquiring an additional 131,259 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Tigo Energy by 24.4% in the 1st quarter. Bank of America Corp DE now owns 471,036 shares of the company’s stock worth $1,771,000 after purchasing an additional 92,412 shares during the last quarter. Institutional investors and hedge funds own 15.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wall Street Zen cut shares of 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. Northland Securities set a $6.40 price objective on Tigo Energy in a research note on Thursday, May 7th. Finally, Roth Mkm restated a “buy” rating and issued a $7.00 target price on shares of Tigo Energy in a 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.