TPI Composites, Inc. (NASDAQ:TPIC) Major Shareholder Buys $95,040.00 in Stock

TPI Composites, Inc. (NASDAQ:TPIC) major shareholder Construction Taahhut A.S. Dere acquired 66,000 shares of TPI Composites stock in a transaction that occurred on Thursday, February 20th. The stock was acquired at an average cost of $1.44 per share, with a total value of $95,040.00. Following the purchase, the insider now directly owns 4,295,232 shares of the company’s stock, valued at $6,185,134.08. This represents a 1.56 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% 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 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 acquired 80,000 shares of TPI Composites stock. The stock was acquired at an average cost of $1.52 per share, with a total value of $121,600.00.
• On Tuesday, February 4th, Construction Taahhut A.S. Dere purchased 49,000 shares of TPI Composites stock. The stock was purchased at an average cost of $1.59 per share, for a total transaction of $77,910.00.

TPI Composites Price Performance

Shares of TPIC opened at $1.13 on Friday. 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 1-year low of $1.01 and a 1-year high of $5.75. The company’s fifty day moving average price is $1.55 and its 200-day moving average price is $2.69.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings data on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share 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 analysts’ expectations of $364.83 million. As a group, research analysts anticipate that TPI Composites, Inc. will post -0.9 EPS for the current fiscal year.

Analyst Ratings Changes

TPIC has been the topic of several analyst reports. Bank of America cut their price target on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of TPI Composites in a report on Thursday, December 12th. StockNews.com raised shares of TPI Composites from a “sell” rating to a “hold” rating in a report on Monday, February 24th. UBS Group cut their price target on shares of TPI Composites from $2.40 to $1.60 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $2.00 price target (down from $4.00) on shares of TPI Composites in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $3.83.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Erste Asset Management GmbH acquired a new position in TPI Composites during the third quarter valued at $7,854,000. Barclays PLC lifted its position in TPI Composites by 281.4% during the third quarter. Barclays PLC now owns 60,538 shares of the industrial products company’s stock valued at $275,000 after purchasing an additional 44,666 shares during the period. BNP Paribas Financial Markets lifted its position in TPI Composites by 391.9% during the third quarter. BNP Paribas Financial Markets now owns 64,645 shares of the industrial products company’s stock valued at $294,000 after purchasing an additional 51,502 shares during the period. JPMorgan Chase & Co. lifted its position in TPI Composites by 433.6% during the third quarter. JPMorgan Chase & Co. now owns 145,666 shares of the industrial products company’s stock valued at $663,000 after purchasing an additional 118,365 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of TPI Composites in the third quarter worth about $155,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

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.