Construction Taahhut A.S. Dere Buys 80,000 Shares of TPI Composites, Inc. (NASDAQ:TPIC) Stock

TPI Composites, Inc. (NASDAQ:TPIC) major shareholder Construction Taahhut A.S. Dere acquired 80,000 shares of the stock in a transaction dated Monday, February 24th. The shares were bought at an average cost of $1.52 per share, for a total transaction of $121,600.00. Following the completion of the transaction, the insider now owns 4,397,232 shares in the company, valued at approximately $6,683,792.64. This represents a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own more than 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 Wednesday, February 26th, Construction Taahhut A.S. Dere acquired 10,000 shares of TPI Composites stock. The shares were bought at an average cost of $1.25 per share, for a total transaction of $12,500.00.
• On Thursday, February 20th, Construction Taahhut A.S. Dere purchased 66,000 shares of TPI Composites stock. The stock was acquired 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 purchased 49,000 shares of TPI Composites stock. The stock was acquired at an average cost of $1.59 per share, for a total transaction of $77,910.00.

TPI Composites Price Performance

NASDAQ: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 stock’s 50 day simple moving average is $1.55 and its two-hundred day simple moving average is $2.70. The company 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 released its quarterly earnings data on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share (EPS) 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. As a group, analysts anticipate that TPI Composites, Inc. will post -0.9 EPS for the current year.

Analysts Set New Price Targets

TPIC has been the topic of a number of research analyst reports. Roth Mkm lowered their price target on TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a report on Friday, February 21st. StockNews.com raised TPI Composites from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Bank of America lowered their price target on TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Morgan Stanley reissued 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, UBS Group lowered their price target on TPI Composites from $2.40 to $1.60 and set a “neutral” rating on the stock in a report on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $3.83.

Hedge Funds Weigh In On TPI Composites

Large investors have recently modified their holdings of the stock. Cerity Partners LLC bought a new position in shares of TPI Composites during the 4th quarter valued at approximately $25,000. Two Sigma Securities LLC bought a new position in shares of TPI Composites during the 4th quarter valued at approximately $31,000. Dark Forest Capital Management LP bought a new position in shares of TPI Composites during the 4th quarter valued at approximately $33,000. Cedar Point Capital Partners LLC increased its position in shares of 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 purchasing an additional 10,000 shares during the last quarter. Finally, Peoples Bank KS increased its position in shares of TPI Composites by 100.0% during the 4th quarter. Peoples Bank KS now owns 20,000 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors 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.