Tigo Energy (NASDAQ:TYGO) Director Tomer Babai Sells 63,452 Shares of Stock

Tigo Energy, Inc. (NASDAQ:TYGO) Director Tomer Babai sold 63,452 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $4.15, for a total transaction of $263,325.80. Following the sale, the director directly owned 214,450 shares in the company, valued at $889,967.50. This represents a 22.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tigo Energy Stock Performance

Shares of TYGO opened at $4.10 on Thursday. The stock has a market capitalization of $311.23 million, a PE ratio of 102.53 and a beta of 1.32. Tigo Energy, Inc. has a 1 year low of $0.92 and a 1 year high of $5.33. The company’s 50-day simple moving average is $4.14 and its 200-day simple moving average is $3.09.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TYGO. AIGH Capital Management LLC purchased a new position in shares of Tigo Energy in the 1st quarter valued at about $27,374,000. Vanguard Group Inc. increased its holdings in shares of Tigo Energy by 182.4% in the 3rd quarter. Vanguard Group Inc. now owns 922,226 shares of the company’s stock valued at $2,306,000 after acquiring an additional 595,702 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Tigo Energy by 46.0% in the 4th quarter. Renaissance Technologies LLC now owns 1,425,040 shares of the company’s stock valued at $1,967,000 after acquiring an additional 449,140 shares during the last quarter. Walleye Capital LLC increased its holdings in shares of Tigo Energy by 126.7% in the 4th quarter. Walleye Capital LLC now owns 519,899 shares of the company’s stock valued at $717,000 after acquiring an additional 290,544 shares during the last quarter. Finally, AWM Investment Company Inc. purchased a new position in shares of Tigo Energy in the 4th quarter valued at about $329,000. Hedge funds and other institutional investors own 15.72% of the company’s stock.

Analyst Ratings Changes

TYGO has been the subject of a number of recent research reports. Roth Mkm reiterated a “buy” rating and issued a $7.00 price target 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 report on Saturday, May 9th. Weiss Ratings upgraded shares of Tigo Energy from a “sell (e+)” rating to a “sell (d+)” rating in a report on Monday, May 18th. Finally, Northland Securities set a $6.40 price objective on shares of Tigo Energy in a report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently 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.