TPI Composites, Inc. (NASDAQ:TPIC) Major Shareholder Construction Taahhut A.S. Dere Purchases 66,000 Shares

TPI Composites, Inc. (NASDAQ:TPIC) major shareholder Construction Taahhut A.S. Dere acquired 66,000 shares of the stock in a transaction dated Thursday, February 20th. The shares were bought at an average price of $1.44 per share, with a total value of $95,040.00. Following the completion of the transaction, the insider now directly owns 4,295,232 shares of the company’s stock, valued at $6,185,134.08. The trade was a 1.56 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions 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 shares were bought at an average price 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 shares were bought at an average price of $1.52 per share, with a total value of $121,600.00.
• On Tuesday, February 4th, Construction Taahhut A.S. Dere bought 49,000 shares of TPI Composites stock. The stock was acquired at an average price of $1.59 per share, with a total value of $77,910.00.

TPI Composites Stock Up 8.7 %

NASDAQ TPIC opened at $1.13 on Friday. The company has a market cap of $53.80 million, a price-to-earnings 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. The business has a 50 day moving average price of $1.55 and a 200-day moving average price of $2.70.

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 the consensus estimate of ($0.15) by ($0.66). The firm had revenue of $346.51 million during the quarter, compared to analysts’ expectations of $364.83 million. On average, equities research analysts anticipate that TPI Composites, Inc. will post -0.9 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on TPIC. UBS Group lowered their target price on TPI Composites from $2.40 to $1.60 and set a “neutral” rating for the company in a report on Tuesday. StockNews.com upgraded TPI Composites from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Bank of America lowered their target price on TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Morgan Stanley reiterated an “underweight” rating and issued a $2.00 target price (down from $4.00) on shares of TPI Composites in a report on Friday, November 15th. Finally, Roth Mkm lowered their target price on TPI Composites from $2.75 to $1.50 and set a “neutral” rating for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, TPI Composites currently has a consensus rating of “Hold” and an average price target of $3.83.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Erste Asset Management GmbH purchased a new position in shares of TPI Composites during the third quarter valued at approximately $7,854,000. Barclays PLC boosted its position in shares of 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 buying an additional 44,666 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of 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 buying an additional 51,502 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of 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 buying an additional 118,365 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of TPI Composites during the third quarter valued at approximately $155,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

About TPI Composites

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.