TPI Composites (NASDAQ:TPIC) Stock Passes Below 50-Day Moving Average – What’s Next?

TPI Composites, Inc. (NASDAQ:TPIC) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $1.28 and traded as low as $0.85. TPI Composites shares last traded at $0.85, with a volume of 746,899 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TPIC shares. Jefferies Financial Group lowered TPI Composites from a “hold” rating to an “underperform” rating and reduced their price target for the stock from $2.30 to $0.50 in a research report on Tuesday, March 18th. UBS Group decreased their price target 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, February 25th. Roth Mkm cut their price objective on shares of TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a research report on Friday, February 21st. StockNews.com raised shares of TPI Composites from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of TPI Composites in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $3.19.

TPI Composites Stock Performance

The stock’s 50 day simple moving average is $1.28 and its 200-day simple moving average is $2.32. The firm has a market cap of $40.56 million, a price-to-earnings ratio of -0.17 and a beta of 2.07.

TPI Composites (NASDAQ:TPIC) last released its earnings results on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.66). The company had revenue of $346.51 million during the quarter, compared to analysts’ expectations of $364.83 million. On average, analysts expect that TPI Composites, Inc. will post -0.9 EPS for the current fiscal year.

Insider Transactions at TPI Composites

In other TPI Composites news, major shareholder Construction Taahhut A.S. Dere acquired 66,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were purchased at an average price of $1.44 per share, for a total transaction of $95,040.00. Following the completion of the purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders bought a total of 205,000 shares of company stock worth $307,050 over the last three months. 3.70% of the stock is currently owned by insiders.

Institutional Trading of TPI Composites

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cerity Partners LLC purchased a new stake in TPI Composites in the 4th quarter worth approximately $25,000. Two Sigma Securities LLC purchased a new stake in TPI Composites during the fourth quarter worth $31,000. Dark Forest Capital Management LP acquired a new stake in TPI Composites during the fourth quarter valued at $33,000. Cedar Point Capital Partners LLC increased its holdings in TPI Composites by 100.0% in 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 buying an additional 10,000 shares in the last quarter. Finally, Peoples Bank KS raised its position in shares of TPI Composites by 100.0% in the fourth quarter. Peoples Bank KS now owns 20,000 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 10,000 shares during the period. 75.24% of the stock is 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.