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 firm’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 transaction of $246,434.94. Following the completion of the sale, the chief executive officer directly owned 1,239,316 shares of the company’s stock, valued at approximately $4,238,460.72. This represents a 5.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 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 value 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 value of $313,804.32.

Tigo Energy Price Performance

Shares of NASDAQ TYGO traded down $0.29 during midday trading on Friday, hitting $3.29. The stock had a trading volume of 889,599 shares, compared to its average volume of 714,931. The firm has a market cap of $249.75 million, a P/E ratio of 82.27 and a beta of 1.23. Tigo Energy, Inc. has a fifty-two week low of $1.08 and a fifty-two week high of $5.33. The company’s 50-day simple moving average is $4.10 and its 200 day simple moving average is $3.16.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TYGO. Hillsdale Investment Management Inc. bought a new position in shares of Tigo Energy during the third quarter worth $443,000. Man Group plc bought a new stake in shares of Tigo Energy in the 3rd quarter valued at $346,000. AWM Investment Company Inc. acquired a new stake in Tigo Energy during the 4th quarter worth $329,000. Bank of America Corp DE lifted its holdings in Tigo Energy by 32,145.9% during the third quarter. Bank of America Corp DE now owns 66,749 shares of the company’s stock worth $167,000 after acquiring an additional 66,542 shares in the last quarter. Finally, Bridgeway Capital Management LLC bought a new position in Tigo Energy during the fourth quarter worth about $97,000. Institutional investors and hedge funds own 15.72% of the company’s stock.

Analysts Set New Price Targets

TYGO has been the topic of a number of recent research reports. Roth Mkm reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Tigo Energy in a research note on Wednesday, May 6th. Northland Securities set a $6.40 target price on shares of Tigo Energy in a research report on Thursday, May 7th. Wall Street Zen downgraded Tigo Energy from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings raised Tigo Energy from a “sell (e+)” rating to a “sell (d+)” rating in a research note on Monday, May 18th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.