TPI Composites Inc (NASDAQ:TPIC) Short Interest Update

TPI Composites Inc (NASDAQ:TPIC) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 2,508,600 shares, an increase of 8.5% from the May 15th total of 2,312,300 shares. Currently, 8.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 435,000 shares, the short-interest ratio is presently 5.8 days.

NASDAQ:TPIC traded up $0.35 during mid-day trading on Friday, reaching $26.22. The company’s stock had a trading volume of 321,486 shares, compared to its average volume of 385,802. The stock has a market capitalization of $918.09 million, a price-to-earnings ratio of 327.75 and a beta of 1.53. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.33 and a quick ratio of 1.31. The business’s fifty day simple moving average is $23.98. TPI Composites has a 1 year low of $19.54 and a 1 year high of $32.74.

TPI Composites (NASDAQ:TPIC) last announced its earnings results on Wednesday, May 8th. The industrial products company reported ($0.35) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.02. TPI Composites had a negative net margin of 1.44% and a negative return on equity of 8.24%. The business had revenue of $299.78 million during the quarter, compared to the consensus estimate of $300.16 million. As a group, equities analysts forecast that TPI Composites will post -0.07 earnings per share for the current year.

Several research analysts have commented on the stock. BidaskClub raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, June 20th. Zacks Investment Research lowered shares of Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 9th. Finally, ValuEngine lowered shares of Vereit from a “buy” rating to a “hold” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. TPI Composites has an average rating of “Buy” and an average target price of $36.86.

In other news, Director Stephen Bransfield acquired 4,000 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was bought at an average cost of $22.85 per share, with a total value of $91,400.00. Following the completion of the purchase, the director now directly owns 23,137 shares of the company’s stock, valued at $528,680.45. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven C. Lockard acquired 5,000 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were purchased at an average cost of $21.47 per share, with a total value of $107,350.00. Following the completion of the purchase, the chief executive officer now directly owns 277,284 shares of the company’s stock, valued at $5,953,287.48. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 15,400 shares of company stock worth $342,282. Company insiders own 20.30% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of TPIC. Trigran Investments Inc. increased its holdings in shares of TPI Composites by 60.7% during the fourth quarter. Trigran Investments Inc. now owns 1,892,818 shares of the industrial products company’s stock valued at $46,525,000 after acquiring an additional 714,798 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in TPI Composites in the first quarter valued at approximately $18,514,000. Penn Capital Management Co. Inc. purchased a new stake in TPI Composites in the fourth quarter valued at approximately $6,647,000. Scout Investments Inc. purchased a new stake in TPI Composites in the 2nd quarter worth approximately $5,949,000. Finally, Fiera Capital Corp purchased a new stake in TPI Composites in the 4th quarter worth approximately $5,613,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.

TPI Composites Company Profile

TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers. The company also provides composite solutions for the transportation industry. It operates in the United States, Asia, Mexico, Europe, the Middle East, and Africa.

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