TPI Composites, Inc. (NASDAQ:TPIC) Major Shareholder Construction Taahhut A.S. Dere Acquires 49,000 Shares

TPI Composites, Inc. (NASDAQ:TPIC) major shareholder Construction Taahhut A.S. Dere bought 49,000 shares of the stock in a transaction dated Tuesday, February 4th. The shares were acquired at an average price of $1.59 per share, with a total value of $77,910.00. Following the completion of the acquisition, the insider now directly owns 4,229,232 shares of the company’s stock, valued at approximately $6,724,478.88. The trade was a 1.17 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock 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 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 purchased 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 Thursday, February 20th, Construction Taahhut A.S. Dere acquired 66,000 shares of TPI Composites stock. The shares were purchased at an average cost of $1.44 per share, for a total transaction of $95,040.00.

TPI Composites Stock Performance

Shares of NASDAQ:TPIC opened at $1.04 on Friday. The stock’s 50-day simple moving average is $1.57 and its two-hundred day simple moving average is $2.72. The stock has a market capitalization of $49.51 million, a price-to-earnings ratio of -0.21 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.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings data 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 company had revenue of $346.51 million for the quarter, compared to the consensus estimate of $364.83 million. As a group, equities analysts forecast that TPI Composites, Inc. will post -0.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on TPIC shares. Bank of America decreased their target price on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Roth Mkm reduced 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. StockNews.com raised TPI Composites from a “sell” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. reissued a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $2.00 price target (down from $4.00) on shares of TPI Composites in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, TPI Composites has an average rating of “Hold” and an average target price of $3.83.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Quantinno Capital Management LP purchased a new stake in shares of TPI Composites in the 3rd quarter worth $57,000. Cerity Partners LLC bought a new stake in TPI Composites during the fourth quarter valued at about $25,000. Intech Investment Management LLC purchased a new stake in TPI Composites in the third quarter worth about $65,000. Two Sigma Securities LLC purchased a new position in shares of TPI Composites during the 4th quarter valued at about $31,000. Finally, Dark Forest Capital Management LP bought a new position in shares of TPI Composites during the 4th quarter valued at approximately $33,000. 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.