Insider Selling: Tigo Energy (NASDAQ:TYGO) CEO Sells $246,434.94 in Stock

Tigo Energy, Inc. (NASDAQ:TYGO) CEO Zvi Alon sold 72,057 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $3.42, for a total value of $246,434.94. Following the sale, the chief executive officer directly owned 1,239,316 shares of the company’s stock, valued at approximately $4,238,460.72. This trade represents a 5.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• 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 value of $309,450.24.
• On Monday, June 1st, Zvi Alon sold 42,167 shares of Tigo Energy stock. The shares were sold at an average price of $3.85, for a total value of $162,342.95.
• 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 value of $313,804.32.

Tigo Energy Stock Performance

NASDAQ:TYGO opened at $3.29 on Monday. The firm has a market cap of $249.74 million, a PE ratio of 82.27 and a beta of 1.23. Tigo Energy, Inc. has a fifty-two week low of $1.08 and a fifty-two week high of $5.33. The business has a 50 day moving average price of $4.08 and a 200-day moving average price of $3.17.

Tigo Energy (NASDAQ:TYGO) last released 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). The firm had revenue of $25.20 million during the quarter, compared to analyst estimates of $25.76 million. Tigo Energy had a negative return on equity of 41.48% and a net margin of 3.07%. Research analysts predict that Tigo Energy, Inc. will post 0.04 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Tigo Energy from a “sell (e+)” rating to a “sell (d+)” rating in a report on Monday, May 18th. Wall Street Zen cut shares of Tigo Energy from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Roth Mkm reiterated a “buy” rating and issued a $7.00 price target on shares of Tigo Energy in a report on Wednesday, May 6th. Finally, Northland Securities set a $6.40 price target 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.47.

Hedge Funds Weigh In On Tigo Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new position in Tigo Energy during the third quarter valued at $31,000. Scientech Research LLC purchased a new position in Tigo Energy during the third quarter valued at $33,000. Virtu Financial LLC purchased a new position in Tigo Energy during the third quarter valued at $34,000. Centiva Capital LP purchased a new position in Tigo Energy during the third quarter valued at $59,000. Finally, GSA Capital Partners LLP purchased a new position in Tigo Energy during the third quarter valued at $63,000. Hedge funds and other institutional investors own 15.72% of the company’s stock.

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.