Insider Selling: Tigo Energy (NASDAQ:TYGO) CEO Sells $313,804.32 in Stock

Tigo Energy, Inc. (NASDAQ:TYGO) CEO Zvi Alon sold 84,356 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $3.72, for a total transaction of $313,804.32. Following the completion of the transaction, the chief executive officer owned 1,388,866 shares in the company, valued at $5,166,581.52. This represents a 5.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Zvi Alon also recently made the following trade(s):

• On Thursday, June 4th, Zvi Alon sold 72,057 shares of Tigo Energy stock. The stock was sold at an average price of $3.42, for a total transaction of $246,434.94.
• 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 stock was sold at an average price of $3.85, for a total transaction of $162,342.95.

Tigo Energy Price Performance

Shares of TYGO stock opened at $3.29 on Friday. The firm has a market capitalization of $249.74 million, a P/E ratio of 82.27 and a beta of 1.23. The company’s fifty day moving average price is $4.08 and its two-hundred day moving average price is $3.16. Tigo Energy, Inc. has a 12 month low of $1.08 and a 12 month high of $5.33.

Tigo Energy (NASDAQ:TYGO) last issued 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 net margin of 3.07% and a negative return on equity of 41.48%. On average, sell-side analysts anticipate that Tigo Energy, Inc. will post 0.04 EPS for the current year.

Institutional Investors Weigh In On Tigo Energy

Institutional investors have recently modified their holdings of the business. Hillsdale Investment Management Inc. bought a new stake in shares of Tigo Energy during the 3rd quarter valued at about $443,000. Heron Bay Capital Management bought a new stake in shares of Tigo Energy during the 4th quarter valued at about $76,000. Centiva Capital LP bought a new stake in shares of Tigo Energy during the 3rd quarter valued at about $59,000. Virtu Financial LLC bought a new position in Tigo Energy in the 3rd quarter worth about $34,000. Finally, Scientech Research LLC bought a new position in Tigo Energy in the 3rd quarter worth about $33,000. Institutional investors own 15.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TYGO. Roth Mkm restated a “buy” rating and issued a $7.00 target price on shares of Tigo Energy in a research note on Wednesday, May 6th. Wall Street Zen lowered 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 target price on shares of Tigo Energy in a research note on Thursday, May 7th. Finally, 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. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Tigo Energy has a consensus rating of “Hold” and an average target price of $6.47.

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.