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

Tigo Energy, Inc. (NASDAQ:TYGO) CEO Zvi Alon sold 42,167 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $3.85, for a total value of $162,342.95. Following the completion of the transaction, the chief executive officer owned 1,388,866 shares in the company, valued at approximately $5,347,134.10. The trade was a 2.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 value of $309,450.24.
• 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 Price Performance

Shares of TYGO opened at $3.47 on Thursday. Tigo Energy, Inc. has a 1 year low of $1.06 and a 1 year high of $5.33. The stock’s fifty day moving average price is $4.11 and its two-hundred day moving average price is $3.15. The firm has a market cap of $263.41 million, a PE ratio of 86.77 and a beta of 1.23.

Tigo Energy (NASDAQ:TYGO) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02). Tigo Energy had a negative return on equity of 41.48% and a net margin of 3.07%.The company had revenue of $25.20 million during the quarter, compared to the consensus estimate of $25.76 million. Sell-side analysts anticipate that Tigo Energy, Inc. will post 0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. purchased a new stake in shares of Tigo Energy in the third quarter worth about $31,000. Scientech Research LLC purchased a new position in Tigo Energy during the third quarter valued at approximately $33,000. Virtu Financial LLC purchased a new position in Tigo Energy during the third quarter valued at approximately $34,000. NewEdge Advisors LLC increased its holdings in Tigo Energy by 137.7% during the 3rd quarter. NewEdge Advisors LLC now owns 36,162 shares of the company’s stock worth $90,000 after acquiring an additional 20,950 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Tigo Energy by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 335,716 shares of the company’s stock worth $463,000 after acquiring an additional 21,211 shares during the period. Hedge funds and other institutional investors own 15.72% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Roth Mkm reiterated a “buy” rating and issued a $7.00 target price on shares of Tigo Energy in a research note on Wednesday, May 6th. Weiss Ratings upgraded 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 report on Saturday, May 9th. Finally, Northland Securities set a $6.40 target price on shares of Tigo Energy in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average 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.