Insider Selling: Tigo Energy (NASDAQ:TYGO) CEO Sells $162,342.95 in Stock

Tigo Energy, Inc. (NASDAQ:TYGO) CEO Zvi Alon sold 42,167 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $3.85, for a total transaction of $162,342.95. Following the completion of the sale, the chief executive officer owned 1,388,866 shares in the company, valued at $5,347,134.10. The trade was a 2.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Zvi Alon also recently made the following trade(s):

• On Thursday, June 4th, Zvi Alon sold 72,057 shares of Tigo Energy stock. The shares were sold at an average price of $3.42, for a total transaction of $246,434.94.
• On Wednesday, June 3rd, Zvi Alon sold 87,912 shares of Tigo Energy stock. The shares were sold at an average price of $3.52, for a total transaction of $309,450.24.
• 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 transaction of $313,804.32.

Tigo Energy Trading Down 8.1%

Shares of TYGO opened at $3.29 on Friday. Tigo Energy, Inc. has a twelve month low of $1.08 and a twelve month high of $5.33. The firm’s fifty day simple moving average is $4.08 and its 200-day simple moving average is $3.16. The firm has a market capitalization of $249.74 million, a price-to-earnings ratio of 82.27 and a beta of 1.23.

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, 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 business had revenue of $25.20 million for the quarter, compared to analyst estimates of $25.76 million. On average, analysts predict that Tigo Energy, Inc. will post 0.04 earnings per share for the current fiscal year.

Institutional Trading of Tigo Energy

Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. purchased a new stake in shares of Tigo Energy in the third quarter valued at about $31,000. Vanguard Group Inc. lifted its holdings in shares of Tigo Energy by 182.4% in the third 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 in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Tigo Energy in the third quarter valued at about $63,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Tigo Energy in the third quarter valued at about $443,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Tigo Energy in the third quarter valued at about $431,000. Hedge funds and other institutional investors own 15.72% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on TYGO. Wall Street Zen downgraded shares of Tigo Energy from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Northland Securities set a $6.40 price objective on shares of Tigo Energy in a report on Thursday, May 7th. Weiss Ratings raised shares of Tigo Energy from a “sell (e+)” rating to a “sell (d+)” rating in a report on Monday, May 18th. Finally, Roth Mkm reissued a “buy” rating and set a $7.00 price objective on shares of Tigo Energy in a report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average 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.