AIGH Capital Management LLC Buys New Shares in Tigo Energy, Inc. $TYGO

AIGH Capital Management LLC bought a new position in shares of Tigo Energy, Inc. (NASDAQ:TYGO) in the first quarter, Holdings Channel reports. The fund bought 7,280,312 shares of the company’s stock, valued at approximately $27,374,000. Tigo Energy makes up approximately 3.7% of AIGH Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. AIGH Capital Management LLC owned 0.10% of Tigo Energy at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TYGO. Goldman Sachs Group Inc. boosted its stake in shares of Tigo Energy by 20.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 159,625 shares of the company’s stock worth $220,000 after acquiring an additional 27,125 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Tigo Energy by 32,145.9% in the 3rd quarter. Bank of America Corp DE now owns 66,749 shares of the company’s stock worth $167,000 after acquiring an additional 66,542 shares during the last quarter. State Street Corp acquired a new stake in shares of Tigo Energy during the fourth quarter worth $165,000. Quadrature Capital Ltd raised its position in shares of Tigo Energy by 148.1% during the fourth quarter. Quadrature Capital Ltd now owns 77,187 shares of the company’s stock worth $107,000 after purchasing an additional 46,074 shares during the period. Finally, Bridgeway Capital Management LLC purchased a new stake in shares of Tigo Energy during the fourth quarter valued at $97,000. Institutional investors and hedge funds own 15.72% of the company’s stock.

Tigo Energy Stock Performance

NASDAQ TYGO opened at $1.87 on Thursday. The firm’s 50 day moving average price is $3.39 and its two-hundred day moving average price is $3.31. Tigo Energy, Inc. has a twelve month low of $1.19 and a twelve month high of $5.33. The stock has a market cap of $141.95 million, a price-to-earnings ratio of 46.76 and a beta of 1.30.

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, meeting analysts’ consensus estimates of ($0.02). The company 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%. On average, research analysts forecast that Tigo Energy, Inc. will post 0.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TYGO shares. Wall Street Zen lowered 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 report on Monday, May 18th. Roth Capital reaffirmed a “buy” rating and set a $7.00 price objective on shares of Tigo Energy in a research note on Wednesday, May 6th. Finally, Northland Securities set a $6.40 price objective on shares of Tigo Energy in a research note on Thursday, May 7th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Tigo Energy has an average rating of “Hold” and a consensus price target of $6.47.

Insiders Place Their Bets

In related news, Director Joan C. Conley sold 50,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $3.10, for a total transaction of $155,000.00. Following the transaction, the director directly owned 227,902 shares of the company’s stock, valued at approximately $706,496.20. The trade was a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Zvi Alon sold 87,912 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $3.52, for a total value of $309,450.24. Following the completion of the sale, the chief executive officer directly owned 1,311,373 shares of the company’s stock, valued at approximately $4,616,032.96. This represents a 6.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 463,444 shares of company stock valued at $1,631,333 over the last ninety days. Corporate insiders own 26.60% 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.