Tigo Energy (NASDAQ:TYGO) Director Sells $155,000.00 in Stock
by Sarita Garza · The Markets DailyTigo Energy, Inc. (NASDAQ:TYGO – Get Free Report) Director Joan Conley sold 50,000 shares of Tigo Energy stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $3.10, for a total value of $155,000.00. Following the sale, the director directly owned 227,902 shares of the company’s stock, valued at $706,496.20. This trade represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Tigo Energy Stock Performance
NASDAQ TYGO traded down $0.06 during trading on Friday, reaching $2.87. 651,691 shares of the company’s stock were exchanged, compared to its average volume of 715,180. The stock has a market cap of $217.86 million, a P/E ratio of 71.77 and a beta of 1.23. The company has a 50 day moving average price of $4.02 and a two-hundred day moving average price of $3.21. Tigo Energy, Inc. has a 1 year low of $1.13 and a 1 year high of $5.33.
Tigo Energy (NASDAQ:TYGO – Get Free Report) last announced 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). The company had revenue of $25.20 million during 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 forecast that Tigo Energy, Inc. will post 0.04 EPS for the current fiscal year.
Hedge Funds Weigh In On Tigo Energy
A number of institutional investors have recently modified their holdings of TYGO. JPMorgan Chase & Co. acquired a new stake in shares of Tigo Energy during the third quarter worth $31,000. Scientech Research LLC acquired a new stake in shares of Tigo Energy during the third quarter worth $33,000. Virtu Financial LLC acquired a new stake in shares of Tigo Energy during the third quarter worth $34,000. Centiva Capital LP acquired a new stake in shares of Tigo Energy during the third quarter worth $59,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Tigo Energy during the third quarter worth $63,000. Institutional investors and hedge funds own 15.72% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the company. Wall Street Zen downgraded Tigo Energy from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Northland Securities set a $6.40 target price on Tigo Energy in a research report on Thursday, May 7th. Weiss Ratings upgraded Tigo Energy from a “sell (e+)” rating to a “sell (d+)” rating in a report on Monday, May 18th. Finally, Roth Mkm restated a “buy” rating and issued a $7.00 price target on shares of Tigo Energy in a report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Tigo Energy currently has a consensus rating of “Hold” and a consensus price target of $6.47.
Check Out Our Latest Stock Report on TYGO
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.