Zvi Alon Sells 42,167 Shares of Tigo Energy (NASDAQ:TYGO) Stock

Tigo Energy, Inc. (NASDAQ:TYGO) CEO Zvi Alon sold 42,167 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $3.85, for a total transaction of $162,342.95. Following the completion of the transaction, the chief executive officer directly owned 1,388,866 shares in the company, valued at approximately $5,347,134.10. This represents a 2.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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 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 Trading Up 3.2%

Shares of TYGO stock opened at $3.58 on Friday. The company’s fifty day simple moving average is $4.10 and its 200-day simple moving average is $3.16. Tigo Energy, Inc. has a 52 week low of $1.08 and a 52 week high of $5.33. The company has a market cap of $271.76 million, a PE ratio of 89.52 and a beta of 1.23.

Tigo Energy (NASDAQ:TYGO) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.02) earnings per share (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 the consensus estimate of $25.76 million. Equities research analysts expect that Tigo Energy, Inc. will post 0.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TYGO shares. 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. Wall Street Zen downgraded shares of Tigo Energy from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Northland Securities set a $6.40 price objective on shares of Tigo Energy in a report on Thursday, May 7th. Finally, Roth Mkm reissued a “buy” rating and set a $7.00 price objective on shares of Tigo Energy in a 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 company’s stock. According to data from MarketBeat.com, Tigo Energy currently has an average rating of “Hold” and an average target price of $6.47.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TYGO. AIGH Capital Management LLC acquired a new position in Tigo Energy during the 1st quarter worth $27,374,000. Vanguard Group Inc. grew its holdings in Tigo Energy by 182.4% during the 3rd quarter. Vanguard Group Inc. now owns 922,226 shares of the company’s stock worth $2,306,000 after acquiring an additional 595,702 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Tigo Energy by 46.0% during the 4th quarter. Renaissance Technologies LLC now owns 1,425,040 shares of the company’s stock worth $1,967,000 after acquiring an additional 449,140 shares in the last quarter. Walleye Capital LLC grew its holdings in Tigo Energy by 126.7% during the 4th quarter. Walleye Capital LLC now owns 519,899 shares of the company’s stock worth $717,000 after acquiring an additional 290,544 shares in the last quarter. Finally, AWM Investment Company Inc. acquired a new position in Tigo Energy during the 4th quarter worth $329,000. 15.72% of the stock is owned by institutional investors and hedge funds.

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.