Key Points
- Director Tomer Babai sold 63,452 shares of Tigo Energy at an average price of $4.15, reducing his stake by about 22.83%. The company said the sale was made to cover tax withholding obligations tied to vesting equity awards.
- Tigo Energy recently reported earnings in line with expectations, posting EPS of -$0.02 on revenue of $25.2 million. The company also reported a negative return on equity of 41.48% and net margin of 3.07%.
- Wall Street sentiment is mixed but mostly cautious, with analysts holding an average rating of “Hold” and an average price target of $6.47. Institutional investors have also been active, including several firms increasing or initiating positions in the stock.
Tigo Energy, Inc. (NASDAQ:TYGO - Get Free Report) Director Tomer Babai sold 63,452 shares of Tigo Energy stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $4.15, for a total value of $263,325.80. Following the sale, the director owned 214,450 shares in the company, valued at $889,967.50. This trade represents a 22.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Tigo Energy Stock Performance
TYGO opened at $4.10 on Thursday. The business's 50-day simple moving average is $4.14 and its 200-day simple moving average is $3.09. Tigo Energy, Inc. has a one year low of $0.92 and a one year high of $5.33. The stock has a market capitalization of $311.23 million, a P/E ratio of 102.53 and a beta of 1.32.
Tigo Energy (NASDAQ:TYGO - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($0.02) EPS for the quarter, hitting analysts' consensus estimates of ($0.02). Tigo Energy had a negative return on equity of 41.48% and a net margin of 3.07%.The business had revenue of $25.20 million for the quarter, compared to analysts' expectations of $25.76 million. On average, equities research analysts forecast that Tigo Energy, Inc. will post 0.04 EPS for the current fiscal year.
Institutional Investors Weigh In On Tigo Energy
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE raised its holdings in shares of Tigo Energy by 24.4% in the first quarter. Bank of America Corp DE now owns 471,036 shares of the company's stock valued at $1,771,000 after buying an additional 92,412 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Tigo Energy in the first quarter valued at about $478,000. Sei Investments Co. purchased a new stake in shares of Tigo Energy in the first quarter valued at about $107,000. Walleye Capital LLC raised its holdings in shares of Tigo Energy by 25.2% in the first quarter. Walleye Capital LLC now owns 651,158 shares of the company's stock valued at $2,448,000 after buying an additional 131,259 shares during the last quarter. Finally, AIGH Capital Management LLC purchased a new stake in shares of Tigo Energy in the first quarter valued at about $27,374,000. 15.72% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
TYGO has been the topic of a number of research analyst reports. Wall Street Zen cut Tigo Energy from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings upgraded Tigo Energy from a "sell (e+)" rating to a "sell (d+)" rating in a research report on Monday, May 18th. Roth Mkm reiterated a "buy" rating and set a $7.00 target price on shares of Tigo Energy in a research report on Wednesday, May 6th. Finally, Northland Securities set a $6.40 target price on shares of Tigo Energy in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Tigo Energy has an average rating of "Hold" and an average target price of $6.47.
View Our Latest Report on TYGO
About Tigo Energy
(
Get Free Report)
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.
Further Reading
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