Joan Conley Sells 50,000 Shares of Tigo Energy (NASDAQ:TYGO) Stock

Tigo Energy, Inc. (NASDAQ:TYGO) Director Joan Conley sold 50,000 shares of Tigo Energy stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $3.10, for a total value of $155,000.00. Following the transaction, the director owned 227,902 shares in the company, valued at approximately $706,496.20. The trade was a 17.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Tigo Energy Stock Down 2.0%

NASDAQ:TYGO traded down $0.06 on Friday, reaching $2.87. The company’s stock had a trading volume of 651,691 shares, compared to its average volume of 715,180. Tigo Energy, Inc. has a 12-month low of $1.13 and a 12-month high of $5.33. The firm has a market cap of $217.86 million, a price-to-earnings ratio of 71.77 and a beta of 1.23. The stock has a 50 day moving average price of $4.02 and a 200 day moving average price of $3.21.

Tigo Energy (NASDAQ:TYGO) last posted its earnings results on Tuesday, May 5th. The company reported ($0.02) EPS for the quarter, meeting 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 company had revenue of $25.20 million for the quarter, compared to the consensus estimate of $25.76 million. Equities research analysts expect that Tigo Energy, Inc. will post 0.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TYGO. JPMorgan Chase & Co. acquired a new position in Tigo Energy during the 3rd quarter worth $31,000. Vanguard Group Inc. grew its stake in Tigo Energy by 182.4% during the 3rd quarter. Vanguard Group Inc. now owns 922,226 shares of the company’s stock worth $2,306,000 after purchasing an additional 595,702 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Tigo Energy during the 3rd quarter worth $63,000. Hillsdale Investment Management Inc. acquired a new position in Tigo Energy during the 3rd quarter worth $443,000. Finally, Two Sigma Investments LP acquired a new position in Tigo Energy during the 3rd quarter worth $431,000. 15.72% of the stock is owned by institutional investors and hedge funds.

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.