TPI Composites Inc (NASDAQ:TPIC) Sees Large Growth in Short Interest

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TPI Composites Inc (NASDAQ:TPIC) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 4,050,000 shares, a growth of 18.1% from the August 30th total of 3,430,000 shares. Approximately 13.7% of the company’s shares are sold short. Based on an average trading volume of 546,800 shares, the short-interest ratio is currently 7.4 days.

In other TPI Composites news, President William E. Siwek purchased 2,823 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was purchased at an average price of $17.73 per share, with a total value of $50,051.79. Following the completion of the purchase, the president now owns 67,676 shares of the company’s stock, valued at $1,199,895.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 20.30% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of TPIC. Atria Investments LLC acquired a new position in shares of TPI Composites during the second quarter valued at about $696,000. Schroder Investment Management Group boosted its holdings in TPI Composites by 62.1% during the second quarter. Schroder Investment Management Group now owns 328,301 shares of the industrial products company’s stock worth $8,116,000 after purchasing an additional 125,833 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new position in TPI Composites during the second quarter worth about $4,128,000. Rice Hall James & Associates LLC boosted its holdings in TPI Composites by 9.9% during the second quarter. Rice Hall James & Associates LLC now owns 100,803 shares of the industrial products company’s stock worth $2,492,000 after purchasing an additional 9,095 shares during the last quarter. Finally, Alps Advisors Inc. raised its position in TPI Composites by 122.8% in the second quarter. Alps Advisors Inc. now owns 54,042 shares of the industrial products company’s stock worth $1,336,000 after acquiring an additional 29,781 shares during the period. Institutional investors and hedge funds own 87.06% of the company’s stock.

NASDAQ:TPIC traded up $0.27 during trading hours on Tuesday, reaching $19.10. The company had a trading volume of 149,634 shares, compared to its average volume of 482,160. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 1.11. The firm has a market cap of $651.40 million, a price-to-earnings ratio of 238.75 and a beta of 1.72. The business’s 50-day simple moving average is $18.41 and its two-hundred day simple moving average is $23.21. TPI Composites has a twelve month low of $16.80 and a twelve month high of $32.74.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.33. The business had revenue of $330.77 million during the quarter, compared to analysts’ expectations of $330.90 million. TPI Composites had a negative net margin of 0.82% and a negative return on equity of 5.59%. The business’s quarterly revenue was up 43.4% on a year-over-year basis. During the same period last year, the company posted ($0.12) earnings per share. As a group, equities analysts predict that TPI Composites will post 0.03 earnings per share for the current year.

A number of brokerages recently weighed in on TPIC. Raymond James raised shares of TPI Composites from an “outperform” rating to a “strong-buy” rating and set a $32.00 target price for the company in a research note on Tuesday, August 20th. BidaskClub raised shares of TPI Composites from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. Roth Capital lowered their target price on shares of TPI Composites from $34.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, August 9th. JMP Securities lowered their target price on shares of TPI Composites from $34.00 to $25.00 and set a “market outperform” rating for the company in a research note on Tuesday, September 10th. Finally, ValuEngine raised shares of TPI Composites from a “hold” rating to a “buy” rating in a research note on Tuesday, September 17th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $29.73.

TPI Composites Company Profile

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers. The company also provides composite solutions for the transportation industry. It operates in the United States, Asia, Mexico, Europe, the Middle East, and Africa.

See Also: Quick Ratio

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