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

TPI Composites, Inc. (NASDAQ:TPIC) major shareholder Construction Taahhut A.S. Dere bought 66,000 shares of TPI Composites stock in a transaction on Thursday, February 20th. The stock was acquired at an average price of $1.44 per share, with a total value 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 approximately $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 available at this hyperlink. Major shareholders that own at least 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 bought 10,000 shares of TPI Composites stock. The shares were purchased at an average cost 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 stock was bought at an average cost 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 bought at an average price of $1.59 per share, with a total value of $77,910.00.

TPI Composites Trading Down 8.4 %

Shares of TPI Composites stock opened at $1.04 on Friday. The stock has a market capitalization of $49.51 million, a price-to-earnings ratio of -0.21 and a beta of 1.82. The firm’s 50-day moving average price is $1.57 and its two-hundred day moving average price is $2.72. TPI Composites, Inc. has a 1-year low of $1.01 and a 1-year high of $5.75.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings results on Thursday, February 20th. The industrial products company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.66). The company had revenue of $346.51 million during the quarter, compared to analyst estimates of $364.83 million. As a group, equities research analysts predict that TPI Composites, Inc. will post -0.9 EPS for the current year.

Analyst Upgrades and Downgrades

TPIC has been the subject of a number of research reports. 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 research report on Thursday, November 7th. Morgan Stanley reaffirmed an “underweight” rating and issued a $2.00 target price (down from $4.00) on shares of TPI Composites in a research report on Friday, November 15th. Roth Mkm lowered their price target on shares of TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a report on Friday, February 21st. UBS Group reduced their price objective on shares of TPI Composites from $2.40 to $1.60 and set a “neutral” rating for the company in a report on Tuesday. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of TPI Composites in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $3.83.

Institutional Trading of TPI Composites

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Erste Asset Management GmbH acquired a new stake in TPI Composites in the 3rd quarter valued at about $7,854,000. Brightline Capital Management LLC grew its stake in shares of TPI Composites by 2.5% during the fourth quarter. Brightline Capital Management LLC now owns 1,700,000 shares of the industrial products company’s stock valued at $3,213,000 after purchasing an additional 42,000 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of TPI Composites by 1.0% in the fourth quarter. Bank of America Corp DE now owns 1,103,086 shares of the industrial products company’s stock valued at $2,085,000 after purchasing an additional 10,611 shares in the last quarter. Geode Capital Management LLC raised its position in TPI Composites by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,021,604 shares of the industrial products company’s stock worth $1,931,000 after purchasing an additional 16,034 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its holdings in TPI Composites by 8.2% during the 4th quarter. Sanctuary Advisors LLC now owns 290,098 shares of the industrial products company’s stock worth $548,000 after buying an additional 22,005 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

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.