Tigo Energy, Inc. (NASDAQ:TYGO - Get Free Report) Director Sagit Manor sold 63,500 shares of the stock in a transaction on 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 sale, the director owned 323,098 shares of the company's stock, valued at $920,829.30. The trade was a 16.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Tigo Energy Stock Performance
Shares of TYGO stock opened at $2.84 on Tuesday. Tigo Energy, Inc. has a 52-week low of $1.14 and a 52-week high of $5.33. The firm has a market capitalization of $215.58 million, a PE ratio of 71.02 and a beta of 1.23. The stock has a fifty day simple moving average of $3.99 and a two-hundred day simple moving average of $3.22.
Tigo Energy (NASDAQ:TYGO - Get Free Report) last issued its quarterly 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). 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 during the quarter, compared to analyst estimates of $25.76 million. On average, sell-side analysts forecast that Tigo Energy, Inc. will post 0.04 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its holdings in shares of Tigo Energy by 24.4% in the 1st quarter. Bank of America Corp DE now owns 471,036 shares of the company's stock valued at $1,771,000 after acquiring an additional 92,412 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Tigo Energy in the 1st quarter valued at about $478,000. Sei Investments Co. bought a new position in shares of Tigo Energy in the 1st quarter valued at about $107,000. Walleye Capital LLC lifted its holdings in shares of Tigo Energy by 25.2% in the 1st quarter. Walleye Capital LLC now owns 651,158 shares of the company's stock valued at $2,448,000 after acquiring an additional 131,259 shares during the last quarter. Finally, AIGH Capital Management LLC bought a new position in shares of Tigo Energy in the 1st quarter valued at about $27,374,000. Institutional investors own 15.72% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the company. Weiss Ratings upgraded Tigo Energy from a "sell (e+)" rating to a "sell (d+)" rating in a research report on Monday, May 18th. Wall Street Zen lowered Tigo Energy from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Northland Securities set a $6.40 price objective on Tigo Energy in a research report on Thursday, May 7th. Finally, Roth Mkm restated a "buy" rating and set a $7.00 price objective on shares of Tigo Energy in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $6.47.
Get Our Latest Stock 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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