Construction Taahhut A.S. Dere Acquires 49,000 Shares of TPI Composites, Inc. (NASDAQ:TPIC) Stock

TPI Composites, Inc. (NASDAQ:TPIC) major shareholder Construction Taahhut A.S. Dere bought 49,000 shares of TPI Composites stock in a transaction dated Tuesday, February 4th. The shares were bought at an average cost of $1.59 per share, with a total value of $77,910.00. Following the completion of the acquisition, the insider now owns 4,229,232 shares of the company’s stock, valued at $6,724,478.88. The trade was a 1.17 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Construction Taahhut A.S. Dere also recently made the following trade(s):

• On Wednesday, February 26th, Construction Taahhut A.S. Dere bought 10,000 shares of TPI Composites stock. The shares were bought at an average cost of $1.25 per share, with a total value of $12,500.00.
• On Monday, February 24th, Construction Taahhut A.S. Dere bought 80,000 shares of TPI Composites stock. The shares were bought at an average cost of $1.52 per share, with a total value of $121,600.00.
• On Thursday, February 20th, Construction Taahhut A.S. Dere bought 66,000 shares of TPI Composites stock. The shares were bought at an average cost of $1.44 per share, with a total value of $95,040.00.

TPI Composites Price Performance

Shares of TPIC stock opened at $1.13 on Friday. TPI Composites, Inc. has a fifty-two week low of $1.01 and a fifty-two week high of $5.75. The stock’s 50-day moving average is $1.55 and its two-hundred day moving average is $2.70. The firm has a market cap of $53.80 million, a P/E ratio of -0.22 and a beta of 1.82.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings data on Thursday, February 20th. The industrial products company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.66). The firm had revenue of $346.51 million during the quarter, compared to analyst estimates of $364.83 million. As a group, research analysts expect that TPI Composites, Inc. will post -0.9 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Morgan Stanley reaffirmed an “underweight” rating and set a $2.00 target price (down from $4.00) on shares of TPI Composites in a report on Friday, November 15th. Bank of America reduced their price objective on TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of TPI Composites in a research note on Thursday, December 12th. UBS Group reduced their price objective on TPI Composites from $2.40 to $1.60 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Roth Mkm reduced their price objective on TPI Composites from $2.75 to $1.50 and set a “neutral” rating for the company in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.83.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Erste Asset Management GmbH acquired a new position in shares of TPI Composites during the 3rd quarter valued at about $7,854,000. Barclays PLC increased its holdings in shares of TPI Composites by 281.4% during the 3rd quarter. Barclays PLC now owns 60,538 shares of the industrial products company’s stock valued at $275,000 after acquiring an additional 44,666 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of TPI Composites by 391.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 64,645 shares of the industrial products company’s stock valued at $294,000 after acquiring an additional 51,502 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of TPI Composites by 433.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 145,666 shares of the industrial products company’s stock valued at $663,000 after acquiring an additional 118,365 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of TPI Composites during the 3rd quarter valued at about $155,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

About TPI Composites

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs) in the United States, Mexico, Europe, the Middle East, Africa, and India. It also provides composite solutions for the automotive industry; and field service inspection and repair services comprising diagnostic, repair, and maintenance services for wind blades to OEM customers, and wind farm owners and operators.