TPI Composites, Inc. (NASDAQ:TPIC) Major Shareholder Buys $12,500.00 in Stock

TPI Composites, Inc. (NASDAQ:TPIC) major shareholder Construction Taahhut A.S. Dere acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was acquired at an average cost of $1.25 per share, with a total value of $12,500.00. Following the purchase, the insider now directly owns 4,407,232 shares in the company, valued at $5,509,040. This represents a 0.23 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% 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 Monday, February 24th, Construction Taahhut A.S. Dere purchased 80,000 shares of TPI Composites stock. The shares were acquired at an average price 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 stock was bought at an average cost of $1.44 per share, with a total value of $95,040.00.
• On Tuesday, February 4th, Construction Taahhut A.S. Dere purchased 49,000 shares of TPI Composites stock. The shares were bought at an average price of $1.59 per share, for a total transaction of $77,910.00.

TPI Composites Trading Up 8.7 %

Shares of TPIC opened at $1.13 on Friday. TPI Composites, Inc. has a 1-year low of $1.01 and a 1-year high of $5.75. The firm’s 50-day moving average price is $1.55 and its 200-day moving average price is $2.70. The firm has a market capitalization of $53.80 million, a price-to-earnings ratio of -0.22 and a beta of 1.82.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings data on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.66). The business had revenue of $346.51 million during the quarter, compared to analyst estimates of $364.83 million. On average, research analysts forecast that TPI Composites, Inc. will post -0.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TPIC shares. Morgan Stanley reissued an “underweight” rating and set a $2.00 price objective (down previously from $4.00) on shares of TPI Composites in a research note on Friday, November 15th. StockNews.com raised shares of TPI Composites from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. Bank of America cut their price target on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. UBS Group lowered their price objective on shares of 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 cut their target price on TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, TPI Composites presently has an average rating of “Hold” and a consensus price target of $3.83.

Institutional Investors Weigh In On TPI Composites

Hedge funds have recently made changes to their positions in the company. Cerity Partners LLC purchased a new position in TPI Composites during the fourth quarter valued at $25,000. Two Sigma Securities LLC bought a new position in shares of TPI Composites in the 4th quarter worth about $31,000. Dark Forest Capital Management LP bought a new position in shares of TPI Composites in the 4th quarter worth about $33,000. Cedar Point Capital Partners LLC lifted its position in TPI Composites by 100.0% during the 4th quarter. Cedar Point Capital Partners LLC now owns 20,000 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 10,000 shares during the period. Finally, Peoples Bank KS boosted its stake in TPI Composites by 100.0% during the fourth quarter. Peoples Bank KS now owns 20,000 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 10,000 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors.

TPI Composites Company Profile

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.