Insider Selling: Tigo Energy (NASDAQ:TYGO) CEO Sells 72,057 Shares of Stock

Tigo Energy, Inc. (NASDAQ:TYGO) CEO Zvi Alon sold 72,057 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $3.42, for a total value of $246,434.94. Following the completion of the transaction, the chief executive officer owned 1,239,316 shares of the company’s stock, valued at $4,238,460.72. This represents a 5.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 stock was 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 Trading Down 8.1%

Shares of TYGO stock traded down $0.29 during trading hours on Friday, hitting $3.29. 889,599 shares of the company were exchanged, compared to its average volume of 714,931. Tigo Energy, Inc. has a 52 week low of $1.08 and a 52 week high of $5.33. The business has a 50 day moving average of $4.10 and a two-hundred day moving average of $3.16. The company has a market capitalization of $249.75 million, a PE ratio of 82.27 and a beta of 1.23.

Tigo Energy (NASDAQ:TYGO) last announced its earnings results on Tuesday, May 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting 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 negative return on equity of 41.48% and a net margin of 3.07%. On average, research analysts forecast that Tigo Energy, Inc. will post 0.04 EPS for the current year.

Institutional Trading of Tigo Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. bought a new position in shares of Tigo Energy in the 3rd quarter valued at about $443,000. Centiva Capital LP bought a new stake in shares of Tigo Energy in the 3rd quarter valued at about $59,000. Virtu Financial LLC acquired a new stake in Tigo Energy in the 3rd quarter valued at about $34,000. Scientech Research LLC acquired a new stake in Tigo Energy in the 3rd quarter valued at about $33,000. Finally, JPMorgan Chase & Co. bought a new position in Tigo Energy during the third quarter worth about $31,000. 15.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

TYGO has been the subject of several recent research reports. Weiss Ratings upgraded shares of Tigo Energy from a “sell (e+)” rating to a “sell (d+)” rating in a report on Monday, May 18th. Wall Street Zen cut shares of Tigo Energy from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Northland Securities set a $6.40 price objective on shares of Tigo Energy in a research note on Thursday, May 7th. Finally, Roth Mkm restated a “buy” rating and issued a $7.00 price objective 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, Tigo Energy presently has a consensus rating of “Hold” and a consensus price target 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.