TPI Composites, Inc. (NASDAQ:TPIC) CEO Purchases $21,900.00 in Stock

TPI Composites, Inc. (NASDAQ:TPIC) CEO William E. Siwek purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was bought at an average cost of $2.19 per share, for a total transaction of $21,900.00. Following the completion of the acquisition, the chief executive officer now directly owns 218,347 shares in the company, valued at $478,179.93. The trade was a 4.80 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

TPI Composites Stock Performance

NASDAQ:TPIC opened at $2.17 on Friday. TPI Composites, Inc. has a 1 year low of $1.90 and a 1 year high of $5.75. The stock’s fifty day moving average price is $3.85 and its two-hundred day moving average price is $4.10.

Institutional Trading of TPI Composites

A number of institutional investors have recently added to or reduced their stakes in TPIC. Mirae Asset Global Investments Co. Ltd. purchased a new position in TPI Composites during the 1st quarter valued at about $77,000. Susquehanna Fundamental Investments LLC bought a new position in shares of TPI Composites in the first quarter valued at approximately $312,000. State Board of Administration of Florida Retirement System grew its stake in TPI Composites by 55.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 16,680 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 5,930 shares in the last quarter. Vanguard Group Inc. increased its holdings in TPI Composites by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 2,286,597 shares of the industrial products company’s stock worth $6,654,000 after acquiring an additional 72,056 shares during the period. Finally, LRI Investments LLC purchased a new stake in TPI Composites in the 1st quarter worth approximately $863,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Bank of America dropped their target price on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Morgan Stanley reiterated an “underweight” rating and issued a $2.00 price objective (down previously from $4.00) on shares of TPI Composites in a research note on Friday. Piper Sandler raised their target price on TPI Composites from $3.50 to $3.70 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Evercore ISI raised TPI Composites to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Jefferies Financial Group initiated coverage on TPI Composites in a report on Thursday, October 17th. They issued a “hold” rating and a $5.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, TPI Composites presently has a consensus rating of “Hold” and a consensus target price of $4.58.

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.