Insider Selling: Tigo Energy (NASDAQ:TYGO) Director Sells $180,975.00 in Stock

Tigo Energy, Inc. (NASDAQ:TYGO) Director Sagit Manor sold 63,500 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $2.85, for a total transaction of $180,975.00. Following the completion of the sale, the director directly owned 323,098 shares of the company’s stock, valued at approximately $920,829.30. This trade represents a 16.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tigo Energy Price Performance

Shares of Tigo Energy stock opened at $2.68 on Thursday. Tigo Energy, Inc. has a fifty-two week low of $1.14 and a fifty-two week high of $5.33. The firm has a fifty day moving average price of $3.95 and a two-hundred day moving average price of $3.24. The company has a market cap of $203.44 million, a PE ratio of 67.02 and a beta of 1.23.

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

Hedge Funds Weigh In On Tigo Energy

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TYGO. Weiss Ratings raised shares of Tigo Energy from a “sell (e+)” rating to a “sell (d+)” rating in a report on Monday, May 18th. Roth Mkm reaffirmed a “buy” rating and set a $7.00 price objective on shares of Tigo Energy in a report on Wednesday, May 6th. 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 price objective on shares of Tigo Energy in a report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.