TPI Composites, Inc. (NASDAQ:TPIC) Major Shareholder Buys $77,910.00 in Stock

TPI Composites, Inc. (NASDAQ:TPIC) major shareholder Construction Taahhut A.S. Dere purchased 49,000 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was acquired at an average price of $1.59 per share, with a total value of $77,910.00. Following the purchase, the insider now directly owns 4,229,232 shares in the company, valued at $6,724,478.88. This represents a 1.17 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 acquired 10,000 shares of TPI Composites stock. The stock was acquired 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 acquired at an average cost of $1.52 per share, for a total transaction of $121,600.00.
• 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.

TPI Composites Stock Down 8.4 %

TPIC stock opened at $1.04 on Friday. TPI Composites, Inc. has a 52 week low of $1.01 and a 52 week high of $5.75. The firm has a market capitalization of $49.51 million, a P/E ratio of -0.21 and a beta of 1.82. The company has a fifty day simple moving average of $1.57 and a two-hundred day simple moving average of $2.72.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings results 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 company had revenue of $346.51 million for the quarter, compared to analysts’ expectations of $364.83 million. As a group, analysts anticipate that TPI Composites, Inc. will post -0.9 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Bank of America cut their price objective on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Roth Mkm reduced their price target 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. UBS Group decreased their price target on shares of TPI Composites from $2.40 to $1.60 and set a “neutral” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. restated a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. Finally, StockNews.com raised TPI Composites from a “sell” rating to a “hold” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $3.83.

Institutional Investors Weigh In On TPI Composites

Institutional investors have recently modified their holdings of the stock. Erste Asset Management GmbH bought a new position in shares of TPI Composites during the 3rd quarter valued at approximately $7,854,000. Brightline Capital Management LLC boosted its stake in shares of TPI Composites by 2.5% during the 4th quarter. Brightline Capital Management LLC now owns 1,700,000 shares of the industrial products company’s stock worth $3,213,000 after purchasing an additional 42,000 shares during the period. Bank of America Corp DE boosted its stake 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. Geode Capital Management LLC grew its holdings in TPI Composites by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,021,604 shares of the industrial products company’s stock valued at $1,931,000 after purchasing an additional 16,034 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its position in TPI Composites by 8.2% in the 4th quarter. Sanctuary Advisors LLC now owns 290,098 shares of the industrial products company’s stock worth $548,000 after purchasing an additional 22,005 shares during the period. 75.24% of the stock is owned by institutional investors.

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.