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 dated Monday, June 15th. The stock was sold at an average price of $2.85, for a total value of $180,975.00. Following the completion of the transaction, the director owned 323,098 shares in the company, valued at approximately $920,829.30. This trade represents a 16.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tigo Energy Price Performance

Tigo Energy stock opened at $2.66 on Wednesday. The stock’s 50-day moving average is $3.97 and its 200-day moving average is $3.23. The company has a market cap of $201.92 million, a price-to-earnings ratio of 66.52 and a beta of 1.23. Tigo Energy, Inc. has a 12 month low of $1.14 and a 12 month high of $5.33.

Tigo Energy (NASDAQ:TYGO) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). The company had revenue of $25.20 million for 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%. Research analysts anticipate that Tigo Energy, Inc. will post 0.04 EPS for the current year.

Institutional Investors Weigh In On Tigo Energy

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

Analysts Set New Price Targets

TYGO has been the topic of several analyst reports. Weiss Ratings upgraded 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 target price on Tigo Energy in a report on Thursday, May 7th. Roth Mkm reiterated a “buy” rating and set a $7.00 target price on shares of Tigo Energy in a report on Wednesday, May 6th. Finally, Wall Street Zen downgraded Tigo Energy from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Tigo Energy presently has a consensus 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.