Sagit Manor Sells 63,500 Shares of Tigo Energy (NASDAQ:TYGO) Stock

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

Tigo Energy Trading Down 1.0%

TYGO stock traded down $0.03 during mid-day trading on Monday, hitting $2.84. 755,009 shares of the company were exchanged, compared to its average volume of 662,613. The company has a market capitalization of $215.58 million, a PE ratio of 71.02 and a beta of 1.23. Tigo Energy, Inc. has a twelve month low of $1.14 and a twelve month high of $5.33. The firm has a fifty day simple moving average of $3.99 and a 200 day simple moving average of $3.22.

Tigo Energy (NASDAQ:TYGO) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02). The company had revenue of $25.20 million during 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%. As a group, sell-side analysts anticipate that Tigo Energy, Inc. will post 0.04 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new position in Tigo Energy during the 3rd quarter valued at about $31,000. Scientech Research LLC acquired a new position in Tigo Energy during the 3rd quarter valued at about $33,000. Virtu Financial LLC bought a new stake in shares of Tigo Energy during the 3rd quarter worth about $34,000. Centiva Capital LP bought a new stake in shares of Tigo Energy during the 3rd quarter worth about $59,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Tigo Energy during the 3rd quarter worth about $63,000. 15.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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