Point72 Asset Management LP has recently announced that it has increased stake in TPI Composites Inc (NASDAQ:TPIC) by 9.41%. After grabbing 2.13 million shares, the institutional investor is now in possession of 0.18 million shares of the Industrials Company. The new investment brought the stake of investor firm to 5.01% having worth around $4.5 million. Moreover, The Vanguard Group, Inc. increased its share by 7403.0 to have a control over 2.08 million shares. And Invesco Capital Management LLC raised its holdings to 0.2 million shares by acquiring 1.51 million shares or 3.54% of the stake.
TPI Composites Inc (TPIC) concluded trading on 12/27/23 at a closing price of $4.62, with 3.41 million shares of worth about $15.74 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -52.95% during that period and on Wednesday the price saw a gain of about 9.74%. Currently the company’s common shares owned by public are about 42.04M shares, out of which, 41.57M shares are available for trading.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 13 analysts are covering the TPIC stock and their offered price forecasts bring an average price target of $5.68. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $13.00 and could fall to a lowest price of $2.50. The stock’s current price level is 18.66% above of average price target set by the analysts, while a rise to estimated low would result in loss of -84.8% for the stock. However, touching the estimated high of $13.00 would mean a gain of 64.46% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 43 times over the past 12 months. They bought 441,667 shares in 28 of the transactions. In 15 selling transactions, insiders dumped 125,122 shares.
Vanguard Total Stock Market ETF, CS Invt. Fds. 2 -, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in TPI Composites Inc Vanguard Total Stock Market ETF is currently holding 1.24 million shares of worth totaling $2.62 million. The company recently came buying 0.0 shares which brought its stake up to 2.91% of the company’s outstanding shares. CS Invt. Fds. 2 – sold 93596.0 shares, after which its hold over company’s outstanding shares shrunk to 2.83%, leaving 1.21 million shares with the mutual fund that have a worth of about $2.55 million. iShares Russell 2000 ETF, after buying 1.14 million shares, have now control over 2.68% of the stake in the company. It holds 561.0 shares of worth $2.41 million.
TPI Composites Inc (NASDAQ: TPIC) started trading at $4.24, above $0.03 from concluding price of the previous day. However, the stock later moved at a day high price of 4.9399, or with a gain of 9.74%. Stock saw a price change of 25.20% in past 5 days and over the past one month there was a price change of 107.17%. Year-to-date (YTD), TPIC shares are showing a performance of -54.44% which decreased to -51.67% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.63 but also hit the highest price of $14.80 during that period. The average intraday trading volume for TPI Composites Inc shares is 2.30 million. The stock is currently trading 63.35% above its 20-day simple moving average (SMA20), while that difference is up 84.03% for SMA50 and it goes to -34.53% lower than SMA200.
Point72 Asset Management LP acquired 2.13 million shares of TPI Composites Inc having value of about $4.5 million. Data submitted at the U.S SEC by Point72 Asset Management LP revealed that the firm now holds 0.18 million shares in the company valued at close to $847174.02, or have control over 9.41% stake in the company. TPI Composites Inc (NASDAQ: TPIC) currently have 42.04M outstanding shares and institutions hold larger chunk of about 100.11% of that. Holding of mutual funds in the company is about 45.24% while other institutional holders and individual stake holders have control over 46.49% and 17.19% of the stake respectively.
The stock has a current market capitalization of $196.67M and its 3Y-monthly beta is at 2.09. It has posted earnings per share of -$5.87 in the same period. It has Quick Ratio of 1.44 while making debt-to-equity ratio of 1.59. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for TPIC, volatility over the week remained 16.64% while standing at 16.33% over the month.
Analysts are in expectations that TPI Composites Inc (TPIC) stock would likely to be making an EPS of -$0.92 in the current quarter, while forecast for next quarter EPS is -$0.6 and it is -$1.4 for next year. For the current quarter EPS, analysts have given the company a lowest target -$1.15 which is -$0.55 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$1.38 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -80.98% while it is estimated to increase by 80.01% in next year.
Analysts at 13 brokerage firms have issued recommendations for the TPI Composites Inc (TPIC)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.38. Out of those 13 Wall Street analysts, 4 recommended a “Buy” rating, while 9 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
