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

TPI Composites, Inc. (NASDAQ:TPIC) major shareholder Construction Taahhut A.S. Dere acquired 49,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were purchased at an average cost of $1.59 per share, with a total value of $77,910.00. Following the acquisition, the insider now owns 4,229,232 shares of the company’s stock, valued at approximately $6,724,478.88. This represents a 1.17 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases 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 acquired at an average price of $1.25 per share, for a total transaction of $12,500.00.
• On Monday, February 24th, Construction Taahhut A.S. Dere purchased 80,000 shares of TPI Composites stock. The shares were acquired 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 bought 66,000 shares of TPI Composites stock. The shares were acquired at an average price of $1.44 per share, for a total transaction of $95,040.00.

TPI Composites Stock Performance

TPIC opened at $1.13 on Friday. The company has a fifty day moving average price of $1.55 and a two-hundred day moving average price of $2.69. The firm has a market capitalization of $53.80 million, a PE ratio of -0.22 and a beta of 1.82. TPI Composites, Inc. has a 52 week low of $1.01 and a 52 week high of $5.75.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $364.83 million. Equities analysts forecast that TPI Composites, Inc. will post -0.9 EPS for the current year.

Institutional Trading of TPI Composites

Hedge funds have recently modified their holdings of the company. Cerity Partners LLC bought a new stake in TPI Composites in the fourth quarter valued at approximately $25,000. Two Sigma Securities LLC acquired a new position in shares of TPI Composites in the 4th quarter valued at $31,000. Dark Forest Capital Management LP acquired a new stake in TPI Composites during the 4th quarter worth $33,000. Cedar Point Capital Partners LLC raised its stake 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 worth $38,000 after buying an additional 10,000 shares during the period. Finally, Peoples Bank KS lifted its holdings 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 and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on TPIC. Bank of America reduced their price target on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. StockNews.com raised shares of TPI Composites from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. 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, February 25th. 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 report on Friday, February 21st. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. 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 issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $3.83.

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.