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

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

TPI Composites Stock Performance

NASDAQ TPIC opened at $1.04 on Friday. The stock’s fifty day moving average is $1.57 and its two-hundred day moving average is $2.72. TPI Composites, Inc. has a fifty-two week low of $1.01 and a fifty-two week high of $5.75. The firm has a market capitalization of $49.51 million, a P/E ratio of -0.21 and a beta of 1.82.

TPI Composites (NASDAQ:TPIC) last released its earnings results on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share 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 the consensus estimate of $364.83 million. As a group, sell-side analysts forecast that TPI Composites, Inc. will post -0.9 EPS for the current year.

Institutional Investors Weigh In On TPI Composites

A number of institutional investors and hedge funds have recently bought and sold shares of TPIC. Alpine Global Management LLC acquired a new position in TPI Composites in the 4th quarter valued at $38,000. Squarepoint Ops LLC raised its holdings in shares of TPI Composites by 469.2% in the fourth quarter. Squarepoint Ops LLC now owns 59,763 shares of the industrial products company’s stock worth $113,000 after acquiring an additional 49,263 shares during the last quarter. Graham Capital Management L.P. acquired a new position in shares of TPI Composites in the fourth quarter valued at approximately $105,000. Deutsche Bank AG grew its position in shares of TPI Composites by 39.0% in the fourth quarter. Deutsche Bank AG now owns 179,648 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 50,422 shares during the period. Finally, Bank of America Corp DE boosted its position 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 worth $2,085,000 after acquiring an additional 10,611 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on TPIC shares. UBS Group reduced their price objective on shares of TPI Composites from $2.40 to $1.60 and set a “neutral” rating on the stock in a research report on Tuesday. Roth Mkm reduced their price objective on TPI Composites from $2.75 to $1.50 and set a “neutral” rating for the company in a research note on Friday, February 21st. JPMorgan Chase & Co. reissued a “neutral” rating on shares of TPI Composites in a report on Thursday, December 12th. Bank of America decreased their price target 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. Finally, StockNews.com raised shares of TPI Composites from a “sell” rating to a “hold” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.83.

TPI Composites Company Profile

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.