Insider Buying: TPI Composites, Inc. (NASDAQ:TPIC) CEO Buys 10,000 Shares of Stock

TPI Composites, Inc. (NASDAQ:TPIC) CEO William E. Siwek acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average cost of $2.19 per share, for a total transaction of $21,900.00. Following the completion of the transaction, the chief executive officer now directly owns 218,347 shares of the company’s stock, valued at $478,179.93. This represents a 4.80 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

TPI Composites Price Performance

Shares of TPIC stock traded down $0.15 during trading on Friday, reaching $2.23. The company had a trading volume of 453,739 shares, compared to its average volume of 912,572. The company has a market capitalization of $106.06 million, a PE ratio of -0.59 and a beta of 1.93. The firm’s 50 day simple moving average is $3.91 and its two-hundred day simple moving average is $4.11. TPI Composites, Inc. has a one year low of $1.90 and a one year high of $5.75.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TPIC. Mirae Asset Global Investments Co. Ltd. acquired a new position in TPI Composites during the 1st quarter worth $77,000. Susquehanna Fundamental Investments LLC bought a new stake in TPI Composites during the 1st quarter valued at approximately $312,000. State Board of Administration of Florida Retirement System grew its holdings in TPI Composites by 55.2% in the 1st 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 buying an additional 5,930 shares during the last quarter. Vanguard Group Inc. grew its holdings in TPI Composites by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 2,286,597 shares of the industrial products company’s stock valued at $6,654,000 after buying an additional 72,056 shares during the last quarter. Finally, LRI Investments LLC bought a new position in TPI Composites in the 1st quarter worth approximately $863,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.