Tigo Energy (NASDAQ:TYGO) Director Sells $263,325.80 in Stock

Tigo Energy, Inc. (NASDAQ:TYGO) Director Tomer Babai sold 63,452 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $4.15, for a total transaction of $263,325.80. Following the sale, the director owned 214,450 shares in the company, valued at $889,967.50. This represents a 22.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tigo Energy Trading Down 0.2%

NASDAQ TYGO opened at $4.07 on Friday. The firm has a market capitalization of $308.95 million, a price-to-earnings ratio of 101.78 and a beta of 1.32. The firm’s 50 day simple moving average is $4.13 and its 200 day simple moving average is $3.11. Tigo Energy, Inc. has a 1 year low of $0.92 and a 1 year high of $5.33.

Tigo Energy (NASDAQ:TYGO) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). The business had revenue of $25.20 million during the quarter, compared to the consensus estimate 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 research analysts forecast that Tigo Energy, Inc. will post 0.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TYGO. 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 issued a $7.00 price objective on shares of Tigo Energy in a research note on Wednesday, May 6th. Finally, Wall Street Zen downgraded 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.47.

Hedge Funds Weigh In On Tigo Energy

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. bought a new position in shares of Tigo Energy during the third quarter valued at $31,000. Scientech Research LLC bought a new position in shares of Tigo Energy during the third quarter valued at $33,000. Virtu Financial LLC bought a new position in shares of Tigo Energy during the third quarter valued at $34,000. Centiva Capital LP bought a new position in shares of Tigo Energy during the third quarter valued at $59,000. Finally, GSA Capital Partners LLP bought a new position in shares of Tigo Energy during the third quarter valued at $63,000. 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.