TPI Composites, Inc. (NASDAQ:TPIC) Major Shareholder Buys $95,040.00 in Stock

TPI Composites, Inc. (NASDAQ:TPIC) major shareholder Construction Taahhut A.S. Dere acquired 66,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was purchased at an average price of $1.44 per share, with a total value of $95,040.00. Following the transaction, the insider now owns 4,295,232 shares of the company’s stock, valued at approximately $6,185,134.08. This trade represents a 1.56 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock 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 purchased 10,000 shares of TPI Composites stock. The shares were bought at an average price of $1.25 per share, with a total value of $12,500.00.
• On Monday, February 24th, Construction Taahhut A.S. Dere purchased 80,000 shares of TPI Composites stock. The shares were bought at an average price of $1.52 per share, with a total value of $121,600.00.
• 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, with a total value of $77,910.00.

TPI Composites Price Performance

TPI Composites stock opened at $1.13 on Friday. The firm has a 50 day simple moving average of $1.55 and a 200-day simple moving average of $2.69. TPI Composites, Inc. has a 1-year low of $1.01 and a 1-year high of $5.75. The stock has a market cap 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 results 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 firm had revenue of $346.51 million for the quarter, compared to analyst estimates of $364.83 million. Equities analysts expect that TPI Composites, Inc. will post -0.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

TPIC has been the subject of several research analyst reports. Bank of America reduced their price target on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. UBS Group dropped 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, February 25th. StockNews.com raised shares of TPI Composites from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of TPI Composites in a research note on Thursday, December 12th. Finally, Roth Mkm dropped their price objective on shares of 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, TPI Composites currently has an average rating of “Hold” and an average target price of $3.83.

Hedge Funds Weigh In On TPI Composites

A number of hedge funds have recently made changes to their positions in the stock. Alpine Global Management LLC purchased a new position in shares of TPI Composites during the 4th quarter worth approximately $38,000. Squarepoint Ops LLC boosted its position in shares of TPI Composites by 469.2% during the 4th quarter. Squarepoint Ops LLC now owns 59,763 shares of the industrial products company’s stock worth $113,000 after purchasing an additional 49,263 shares during the period. Graham Capital Management L.P. purchased a new position in shares of TPI Composites during the 4th quarter worth approximately $105,000. Deutsche Bank AG boosted its position in shares of TPI Composites by 39.0% during the 4th quarter. Deutsche Bank AG now owns 179,648 shares of the industrial products company’s stock worth $340,000 after purchasing an additional 50,422 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of TPI Composites by 1.0% during the 4th quarter. Bank of America Corp DE now owns 1,103,086 shares of the industrial products company’s stock worth $2,085,000 after purchasing an additional 10,611 shares during the period. Hedge funds and other institutional investors own 75.24% of the company’s stock.

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.