Tigo Energy, Inc. (NASDAQ:TYGO – Get Free Report) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 1,880,423 shares, an increase of 269.7% from the June 15th total of 508,685 shares. Based on an average daily volume of 2,284,763 shares, the days-to-cover ratio is presently 0.8 days. Currently, 3.4% of the company’s shares are sold short.
Tigo Energy Price Performance
TYGO stock traded down $0.18 during trading on Monday, reaching $1.88. 1,305,582 shares of the stock traded hands, compared to its average volume of 873,164. The business’s 50 day moving average price is $3.22 and its 200-day moving average price is $3.32. Tigo Energy has a 52-week low of $1.19 and a 52-week high of $5.33. The firm has a market capitalization of $142.71 million, a PE ratio of 47.01 and a beta of 1.30.
Tigo Energy (NASDAQ:TYGO – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). The company had revenue of $25.20 million for 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%. On average, equities research analysts predict that Tigo Energy will post 0.04 earnings per share for the current year.
Wall Street Analyst Weigh In
View Our Latest Stock Report on Tigo Energy
Insiders Place Their Bets
In related news, Director Tomer Babai sold 63,452 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $4.15, for a total transaction of $263,325.80. Following the transaction, the director directly owned 214,450 shares in the company, valued at approximately $889,967.50. This represents a 22.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sagit Manor sold 63,500 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $2.85, for a total value of $180,975.00. Following the transaction, the director owned 323,098 shares in the company, valued at $920,829.30. This trade represents a 16.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 463,444 shares of company stock worth $1,631,333 over the last ninety days. Company insiders own 26.60% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of TYGO. Bank of America Corp DE grew its stake in Tigo Energy by 24.4% during the first quarter. Bank of America Corp DE now owns 471,036 shares of the company’s stock worth $1,771,000 after buying an additional 92,412 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Tigo Energy in the 1st quarter valued at $478,000. Sei Investments Co. purchased a new position in shares of Tigo Energy in the 1st quarter valued at $107,000. Walleye Capital LLC lifted its holdings in shares of Tigo Energy by 25.2% during 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 in the last quarter. Finally, AIGH Capital Management LLC acquired a new position in shares of Tigo Energy during the 1st quarter valued at $27,374,000. Hedge funds and other institutional investors own 15.72% of the company’s stock.
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.
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