TPI Composites (NASDAQ:TPIC) Trading Down 5.9%

Shares of TPI Composites, Inc. (NASDAQ:TPICGet Rating) dropped 5.9% during trading on Wednesday . The company traded as low as $12.97 and last traded at $13.15. Approximately 95,363 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 588,398 shares. The stock had previously closed at $13.97.

Wall Street Analysts Forecast Growth

TPIC has been the topic of a number of research analyst reports. Morgan Stanley dropped their target price on shares of TPI Composites from $21.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 10th. Piper Sandler lowered their price target on shares of TPI Composites from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, October 17th. Raymond James lowered their price target on shares of TPI Composites from $28.00 to $24.00 and set an “outperform” rating for the company in a research report on Thursday, October 13th. StockNews.com started coverage on shares of TPI Composites in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Craig Hallum raised shares of TPI Composites from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Friday, November 4th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, TPI Composites presently has an average rating of “Moderate Buy” and an average price target of $18.45.

TPI Composites Price Performance

The stock’s 50-day moving average is $11.37 and its 200 day moving average is $13.12. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.47 and a quick ratio of 1.44. The company has a market cap of $565.08 million, a PE ratio of -3.29 and a beta of 1.70.

TPI Composites (NASDAQ:TPICGet Rating) last posted its earnings results on Thursday, November 3rd. The industrial products company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.18). TPI Composites had a negative net margin of 6.53% and a negative return on equity of 66.10%. The firm had revenue of $459.27 million for the quarter, compared to analysts’ expectations of $468.89 million. On average, equities analysts anticipate that TPI Composites, Inc. will post -2.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd raised its holdings in shares of TPI Composites by 1,561.5% in the second quarter. Point72 Hong Kong Ltd now owns 3,456 shares of the industrial products company’s stock worth $43,000 after buying an additional 3,248 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of TPI Composites in the third quarter worth $51,000. Sandia Investment Management LP purchased a new position in shares of TPI Composites in the third quarter worth $56,000. Amalgamated Bank purchased a new position in shares of TPI Composites in the first quarter worth $83,000. Finally, Golden State Equity Partners purchased a new position in shares of TPI Composites in the first quarter worth $339,000. Hedge funds and other institutional investors own 82.07% of the company’s stock.

TPI Composites Company Profile

(Get Rating)

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs). The company also provides composite solutions for the transportation industry; and field service inspection and repair services to OEM customers and wind farm owners and operators.

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