Construction Taahhut A.S. Dere Buys 80,000 Shares of TPI Composites, Inc. (NASDAQ:TPIC) Stock

TPI Composites, Inc. (NASDAQ:TPIC) major shareholder Construction Taahhut A.S. Dere purchased 80,000 shares of TPI Composites stock in a transaction dated Monday, February 24th. The shares were bought at an average price of $1.52 per share, with a total value of $121,600.00. Following the completion of the acquisition, the insider now directly owns 4,397,232 shares of the company’s stock, valued at approximately $6,683,792.64. This represents a 1.85 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock 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 purchased 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 Thursday, February 20th, Construction Taahhut A.S. Dere purchased 66,000 shares of TPI Composites stock. The shares were bought at an average price of $1.44 per share, with a total value of $95,040.00.
• On Tuesday, February 4th, Construction Taahhut A.S. Dere purchased 49,000 shares of TPI Composites stock. The shares were bought at an average price of $1.59 per share, with a total value of $77,910.00.

TPI Composites Stock Performance

Shares of NASDAQ:TPIC opened at $1.13 on Friday. The stock has a market capitalization of $53.80 million, a price-to-earnings ratio of -0.22 and a beta of 1.82. The stock’s 50-day simple moving average is $1.55 and its two-hundred day simple moving average is $2.70. TPI Composites, Inc. has a 52-week low of $1.01 and a 52-week high of $5.75.

TPI Composites (NASDAQ:TPIC) last announced 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 business had revenue of $346.51 million during the quarter, compared to analyst estimates 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TPIC. Cerity Partners LLC purchased a new position in TPI Composites in the fourth quarter worth about $25,000. Two Sigma Securities LLC purchased a new position in shares of TPI Composites during the 4th quarter valued at about $31,000. Dark Forest Capital Management LP purchased a new position in shares of TPI Composites during the 4th quarter valued at about $33,000. Cedar Point Capital Partners LLC lifted its position in shares of TPI Composites by 100.0% during 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 buying an additional 10,000 shares in the last quarter. Finally, Peoples Bank KS lifted its position in shares of TPI Composites by 100.0% during the 4th quarter. Peoples Bank KS 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. 75.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. UBS Group reduced their price target 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. Morgan Stanley reiterated an “underweight” rating and issued a $2.00 price objective (down from $4.00) on shares of TPI Composites in a report on Friday, November 15th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of TPI Composites in a report on Thursday, December 12th. Finally, Bank of America reduced their price objective on TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $3.83.

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.