Zvi Alon Sells 84,356 Shares of Tigo Energy (NASDAQ:TYGO) Stock

Tigo Energy, Inc. (NASDAQ:TYGO) CEO Zvi Alon sold 84,356 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $3.72, for a total value of $313,804.32. Following the transaction, the chief executive officer owned 1,388,866 shares of the company’s stock, valued at approximately $5,166,581.52. This trade represents a 5.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, June 3rd, Zvi Alon sold 87,912 shares of Tigo Energy stock. The stock was 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 stock was sold at an average price of $3.85, for a total value of $162,342.95.

Tigo Energy Trading Up 3.2%

TYGO stock opened at $3.58 on Friday. The stock has a 50-day moving average price of $4.10 and a two-hundred day moving average price of $3.16. The stock has a market cap of $271.76 million, a PE ratio of 89.52 and a beta of 1.23. Tigo Energy, Inc. has a 1 year low of $1.08 and a 1 year high of $5.33.

Tigo Energy (NASDAQ:TYGO) last released its earnings results on Tuesday, May 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.02). The firm had revenue of $25.20 million during the quarter, compared to analysts’ expectations 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 forecast that Tigo Energy, Inc. will post 0.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Tigo Energy

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. bought a new position in shares of Tigo Energy in the 3rd quarter valued at about $31,000. Scientech Research LLC bought a new position in shares of Tigo Energy in the 3rd quarter valued at about $33,000. Virtu Financial LLC bought a new position in shares of Tigo Energy in the 3rd quarter valued at about $34,000. Potomac Capital Management Inc. bought a new position in shares of Tigo Energy in the 4th quarter valued at about $38,000. Finally, Centiva Capital LP bought a new position in shares of Tigo Energy in the 3rd quarter valued at about $59,000. Institutional investors own 15.72% of the company’s stock.

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.