Insider Buying: TPI Composites, Inc. (NASDAQ:TPIC) Major Shareholder Buys $12,500.00 in Stock

TPI Composites, Inc. (NASDAQ:TPIC) major shareholder Construction Taahhut A.S. Dere acquired 10,000 shares of TPI Composites stock in a transaction dated Wednesday, February 26th. The stock was bought at an average price of $1.25 per share, with a total value of $12,500.00. Following the completion of the purchase, the insider now directly owns 4,407,232 shares in the company, valued at $5,509,040. This represents a 0.23 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 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 Monday, February 24th, Construction Taahhut A.S. Dere acquired 80,000 shares of TPI Composites stock. The stock was 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 stock was 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 acquired 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 Stock Up 8.7 %

TPIC opened at $1.13 on Friday. The firm has a 50-day simple moving average of $1.55 and a two-hundred day simple moving average of $2.69. TPI Composites, Inc. has a 52 week low of $1.01 and a 52 week high of $5.75. The company has a market capitalization of $53.80 million, a PE ratio of -0.22 and a beta of 1.82.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. restated a “neutral” rating on shares of TPI Composites in a research note on Thursday, December 12th. Bank of America dropped 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. UBS Group dropped their target price on shares of TPI Composites from $2.40 to $1.60 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Morgan Stanley reaffirmed an “underweight” rating and issued a $2.00 target price (down previously from $4.00) on shares of TPI Composites in a report on Friday, November 15th. Finally, StockNews.com raised shares of TPI Composites from a “sell” rating to a “hold” rating in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $3.83.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TPIC. Cerity Partners LLC bought a new position in shares of TPI Composites during the 4th quarter valued at about $25,000. Two Sigma Securities LLC purchased a new stake in shares of TPI Composites during the 4th quarter valued at about $31,000. Dark Forest Capital Management LP purchased a new stake in shares of TPI Composites during the 4th quarter valued at about $33,000. Cedar Point Capital Partners LLC raised 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 raised 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. 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.