Insider Buying: TPI Composites, Inc. (NASDAQ:TPIC) Major Shareholder Purchases $121,600.00 in Stock

TPI Composites, Inc. (NASDAQ:TPIC) major shareholder Construction Taahhut A.S. Dere purchased 80,000 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was bought at an average cost of $1.52 per share, for a total transaction of $121,600.00. Following the completion of the purchase, the insider now directly owns 4,397,232 shares in the company, valued at $6,683,792.64. This represents a 1.85 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s shares 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 stock was 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 bought 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 bought at an average cost of $1.59 per share, for a total transaction of $77,910.00.

TPI Composites Price Performance

Shares of NASDAQ TPIC opened at $1.13 on Friday. The company has a 50 day simple moving average of $1.55 and a 200-day simple moving average of $2.69. The company has a market capitalization of $53.80 million, a P/E ratio of -0.22 and a beta of 1.82. TPI Composites, Inc. has a 1 year low of $1.01 and a 1 year high of $5.75.

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

Institutional Trading of TPI Composites

Several institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP increased its holdings in TPI Composites by 24.9% in the 3rd quarter. Quantbot Technologies LP now owns 28,391 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 5,653 shares during the last quarter. Barclays PLC increased its holdings in TPI Composites by 14.9% in the 4th quarter. Barclays PLC now owns 69,542 shares of the industrial products company’s stock valued at $131,000 after purchasing an additional 9,004 shares during the last quarter. Peoples Bank KS increased its holdings in TPI Composites by 100.0% in 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. Cedar Point Capital Partners LLC increased its holdings in TPI Composites by 100.0% in 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, Bank of America Corp DE increased its holdings in TPI Composites by 1.0% in the 4th quarter. Bank of America Corp DE now owns 1,103,086 shares of the industrial products company’s stock valued at $2,085,000 after purchasing an additional 10,611 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TPIC. Roth Mkm decreased their target price on shares of TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Bank of America decreased their target price on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a research note 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. JPMorgan Chase & Co. reissued a “neutral” rating on shares of TPI Composites in a research note on Thursday, December 12th. Finally, UBS Group decreased their target price 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. One equities 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, TPI Composites has an average rating of “Hold” and an average target price 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.