TPI Composites, Inc. (NASDAQ:TPIC) CEO William E. Siwek Purchases 10,000 Shares of Stock

TPI Composites, Inc. (NASDAQ:TPIC) CEO William E. Siwek bought 10,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average price of $2.19 per share, for a total transaction of $21,900.00. Following the completion of the transaction, the chief executive officer now owns 218,347 shares in the company, valued at $478,179.93. This trade represents a 4.80 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

TPI Composites Stock Performance

Shares of NASDAQ TPIC traded down $0.15 during trading on Friday, hitting $2.23. The company had a trading volume of 453,739 shares, compared to its average volume of 912,572. TPI Composites, Inc. has a 52 week low of $1.90 and a 52 week high of $5.75. The business’s 50-day moving average is $3.91 and its 200 day moving average is $4.11. The company has a market cap of $106.06 million, a P/E ratio of -0.59 and a beta of 1.93.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Bank of America lowered their price target on TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Evercore ISI raised shares of TPI Composites to a “strong-buy” rating in a research note on Monday, August 12th. Piper Sandler upped their price target on shares of TPI Composites from $3.50 to $3.70 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Jefferies Financial Group started coverage on shares of TPI Composites in a research note on Thursday, October 17th. They set a “hold” rating and a $5.00 price objective on the stock. Finally, Morgan Stanley restated 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, TPI Composites currently has a consensus rating of “Hold” and an average target price of $4.58.

Institutional Investors Weigh In On TPI Composites

Institutional investors and hedge funds have recently modified their holdings of the stock. Erste Asset Management GmbH purchased a new position in shares of TPI Composites in the third quarter worth approximately $7,854,000. Brightline Capital Management LLC boosted its stake in TPI Composites by 14.3% in the 3rd quarter. Brightline Capital Management LLC now owns 1,658,000 shares of the industrial products company’s stock worth $7,544,000 after purchasing an additional 208,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in TPI Composites during the 3rd quarter worth approximately $88,000. BNP Paribas Financial Markets raised its stake 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 valued at $294,000 after purchasing an additional 51,502 shares during the period. Finally, Quantbot Technologies LP lifted its holdings in shares of TPI Composites by 24.9% in the third quarter. Quantbot Technologies LP now owns 28,391 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 5,653 shares in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

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.