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

TPI Composites, Inc. (NASDAQ:TPIC) major shareholder Construction Taahhut A.S. Dere purchased 10,000 shares of the stock in a transaction on Wednesday, February 26th. The stock was bought at an average cost of $1.25 per share, for a total transaction of $12,500.00. Following the completion of the acquisition, the insider now owns 4,407,232 shares in the company, valued at approximately $5,509,040. This trade represents a 0.23 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% 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 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, 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 shares were purchased at an average cost of $1.44 per share, with a total value of $95,040.00.
• On Tuesday, February 4th, Construction Taahhut A.S. Dere bought 49,000 shares of TPI Composites stock. The shares were bought at an average price of $1.59 per share, with a total value of $77,910.00.

TPI Composites Stock Performance

Shares of NASDAQ TPIC 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 company’s 50 day moving average price is $1.57 and its 200-day moving average price is $2.72. The company has a market capitalization of $49.51 million, a P/E ratio of -0.21 and a beta of 1.82.

TPI Composites (NASDAQ:TPIC) last issued 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 business had revenue of $346.51 million for the quarter, compared to analyst estimates of $364.83 million. Analysts forecast that TPI Composites, Inc. will post -0.9 earnings per share for the current year.

Analyst Ratings Changes

TPIC has been the subject of several recent analyst reports. UBS Group cut their price objective 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. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. Morgan Stanley restated an “underweight” rating and set a $2.00 price objective (down from $4.00) on shares of TPI Composites in a research report on Friday, November 15th. Roth Mkm reduced 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. Finally, Bank of America dropped their price target on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, TPI Composites presently has an average rating of “Hold” and a consensus price target of $3.83.

Hedge Funds Weigh In On TPI Composites

Institutional investors and hedge funds have recently modified their holdings of the business. Cerity Partners LLC bought a new stake in shares of TPI Composites in the 4th quarter valued at $25,000. Two Sigma Securities LLC acquired a new stake in TPI Composites in the fourth quarter worth $31,000. Dark Forest Capital Management LP bought a new stake in TPI Composites in the fourth quarter valued at $33,000. Cedar Point Capital Partners LLC raised its holdings in shares of TPI Composites by 100.0% during the fourth 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 period. Finally, Peoples Bank KS boosted 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 worth $38,000 after purchasing an additional 10,000 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors.

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.