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

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 purchased at an average cost of $1.52 per share, for a total transaction of $121,600.00. Following the transaction, the insider now owns 4,397,232 shares in the company, valued at approximately $6,683,792.64. This trade represents a 1.85 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major 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 acquired at an average cost of $1.25 per share, for a total transaction of $12,500.00.
• On Thursday, February 20th, Construction Taahhut A.S. Dere purchased 66,000 shares of TPI Composites stock. The shares were purchased 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 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 Stock Performance

TPIC opened at $1.04 on Friday. The stock’s fifty day moving average is $1.57 and its 200-day moving average is $2.72. The company has a market capitalization of $49.51 million, a PE ratio of -0.21 and a beta of 1.82. TPI Composites, Inc. has a one year low of $1.01 and a one year high of $5.75.

TPI Composites (NASDAQ:TPIC) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $364.83 million. On average, equities research analysts forecast that TPI Composites, Inc. will post -0.9 EPS for the current fiscal year.

Institutional Trading of TPI Composites

A number of hedge funds have recently modified their holdings of the company. Intech Investment Management LLC acquired a new stake in shares of TPI Composites in the third quarter valued at approximately $65,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of TPI Composites in the 3rd quarter valued at approximately $155,000. Quantbot Technologies LP boosted its stake in shares of TPI Composites by 24.9% during the 3rd quarter. Quantbot Technologies LP now owns 28,391 shares of the industrial products company’s stock worth $129,000 after acquiring an additional 5,653 shares during the period. BNP Paribas Financial Markets lifted its holdings in TPI Composites by 391.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 64,645 shares of the industrial products company’s stock worth $294,000 after purchasing an additional 51,502 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in TPI Composites in the 3rd quarter valued at $88,000. Institutional investors own 75.24% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TPIC shares. Morgan Stanley reiterated an “underweight” rating and set a $2.00 target price (down previously from $4.00) on shares of TPI Composites in a research note on Friday, November 15th. UBS Group decreased their price objective on shares of TPI Composites from $2.40 to $1.60 and set a “neutral” rating on the stock in a report on Tuesday. Bank of America decreased their price objective on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Roth Mkm cut their target price on shares of TPI Composites from $2.75 to $1.50 and set a “neutral” rating for the company in a research note on Friday, February 21st. Finally, StockNews.com raised TPI Composites from a “sell” rating to a “hold” rating in a research note on Monday. One 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’s stock. Based on data from MarketBeat, TPI Composites presently has a consensus rating of “Hold” and an average price target 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.