Zvi Alon Sells 72,057 Shares of Tigo Energy (NASDAQ:TYGO) Stock

Tigo Energy, Inc. (NASDAQ:TYGO) CEO Zvi Alon sold 72,057 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $3.42, for a total transaction of $246,434.94. Following the transaction, the chief executive officer owned 1,239,316 shares in the company, valued at $4,238,460.72. This represents a 5.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 transaction of $309,450.24.
• 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 transaction of $162,342.95.
• On Tuesday, June 2nd, Zvi Alon sold 84,356 shares of Tigo Energy stock. The shares were sold at an average price of $3.72, for a total transaction of $313,804.32.

Tigo Energy Price Performance

Shares of NASDAQ TYGO opened at $3.29 on Friday. Tigo Energy, Inc. has a 1 year low of $1.08 and a 1 year high of $5.33. The company’s 50-day moving average is $4.08 and its 200 day moving average is $3.16. The stock has a market capitalization of $249.74 million, a P/E ratio of 82.27 and a beta of 1.23.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TYGO shares. Northland Securities set a $6.40 price objective on shares of Tigo Energy in a research note on Thursday, May 7th. Weiss Ratings raised shares of Tigo Energy from a “sell (e+)” rating to a “sell (d+)” rating in a research note on Monday, May 18th. Roth Mkm reissued a “buy” rating and set a $7.00 price objective on shares of Tigo Energy in a research note on Wednesday, May 6th. Finally, Wall Street Zen lowered shares of Tigo Energy from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.47.

Institutional Investors Weigh In On Tigo Energy

Several hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. bought a new position in shares of Tigo Energy in the third quarter worth approximately $31,000. Scientech Research LLC bought a new position in shares of Tigo Energy in the third quarter worth approximately $33,000. Virtu Financial LLC bought a new position in shares of Tigo Energy in the third quarter worth approximately $34,000. Potomac Capital Management Inc. bought a new position in Tigo Energy in the 4th quarter valued at approximately $38,000. Finally, Centiva Capital LP bought a new position in Tigo Energy in the 3rd quarter valued at approximately $59,000. Institutional investors 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.