Joan Conley Sells 50,000 Shares of Tigo Energy (NASDAQ:TYGO) Stock

Tigo Energy, Inc. (NASDAQ:TYGO) Director Joan Conley sold 50,000 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $3.10, for a total value of $155,000.00. Following the completion of the transaction, the director directly owned 227,902 shares of the company’s stock, valued at approximately $706,496.20. This trade represents a 17.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Tigo Energy Stock Down 2.0%

TYGO stock opened at $2.87 on Friday. The company has a market cap of $217.86 million, a PE ratio of 71.77 and a beta of 1.23. The business has a 50-day simple moving average of $4.01 and a 200 day simple moving average of $3.21. Tigo Energy, Inc. has a 52 week low of $1.13 and a 52 week high of $5.33.

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

Analyst Ratings Changes

A number of research analysts recently commented on the company. Weiss Ratings raised Tigo Energy from a “sell (e+)” rating to a “sell (d+)” rating in a research note on Monday, May 18th. Wall Street Zen cut Tigo Energy from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Northland Securities set a $6.40 target price on Tigo Energy in a research report on Thursday, May 7th. Finally, Roth Mkm restated a “buy” rating and issued a $7.00 price target on shares of Tigo Energy in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.47.

Institutional Investors Weigh In On Tigo Energy

Several hedge funds and other institutional investors have recently made changes to their positions in TYGO. JPMorgan Chase & Co. bought a new stake in shares of Tigo Energy during the 3rd quarter valued at approximately $31,000. Scientech Research LLC bought a new stake in shares of Tigo Energy during the 3rd quarter valued at approximately $33,000. Virtu Financial LLC bought a new stake in shares of Tigo Energy during the 3rd quarter valued at approximately $34,000. Potomac Capital Management Inc. bought a new stake in shares of Tigo Energy during the 4th quarter valued at approximately $38,000. Finally, Centiva Capital LP bought a new stake in shares of Tigo Energy during the 3rd quarter valued at approximately $59,000. 15.72% of the stock is owned by institutional investors.

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.