Construction Taahhut A.S. Dere Purchases 10,000 Shares of TPI Composites, Inc. (NASDAQ:TPIC) Stock

TPI Composites, Inc. (NASDAQ:TPIC) major shareholder Construction Taahhut A.S. Dere acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was purchased at an average price of $1.25 per share, for a total transaction of $12,500.00. Following the purchase, the insider now owns 4,407,232 shares of the company’s stock, valued at $5,509,040. The trade was a 0.23 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, February 24th, Construction Taahhut A.S. Dere bought 80,000 shares of TPI Composites stock. The stock was purchased 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 purchased 66,000 shares of TPI Composites stock. The shares were purchased at an average cost of $1.44 per share, for a total transaction of $95,040.00.
• On Tuesday, February 4th, Construction Taahhut A.S. Dere acquired 49,000 shares of TPI Composites stock. The stock was purchased at an average cost of $1.59 per share, with a total value of $77,910.00.

TPI Composites Price Performance

TPIC opened at $1.13 on Friday. The firm has a market capitalization of $53.80 million, a P/E ratio of -0.22 and a beta of 1.82. TPI Composites, Inc. has a one year low of $1.01 and a one year high of $5.75. The company has a fifty day moving average price of $1.55 and a 200-day moving average price of $2.70.

TPI Composites (NASDAQ:TPIC) last announced its earnings results on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates 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, analysts expect that TPI Composites, Inc. will post -0.9 earnings per share for the current year.

Institutional Investors Weigh In On TPI Composites

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Erste Asset Management GmbH bought a new position in shares of TPI Composites in the 3rd quarter worth $7,854,000. Barclays PLC grew its position in TPI Composites by 281.4% in the third quarter. Barclays PLC now owns 60,538 shares of the industrial products company’s stock worth $275,000 after acquiring an additional 44,666 shares in the last quarter. BNP Paribas Financial Markets increased its stake in TPI Composites by 391.9% in the third 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. raised its position in TPI Composites by 433.6% during the third quarter. JPMorgan Chase & Co. now owns 145,666 shares of the industrial products company’s stock valued at $663,000 after purchasing an additional 118,365 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in TPI Composites during the third quarter worth about $155,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TPIC. UBS Group cut their target price on shares of TPI Composites from $2.40 to $1.60 and set a “neutral” rating for the company in a research report on Tuesday. StockNews.com raised shares of TPI Composites from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Roth Mkm lowered their target price on shares of TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a report on Friday, February 21st. Morgan Stanley reaffirmed an “underweight” rating and issued a $2.00 price target (down from $4.00) on shares of TPI Composites in a report on Friday, November 15th. Finally, Bank of America reduced their price target on TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, TPI Composites currently has a consensus rating of “Hold” and a consensus target price of $3.83.

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.