Insider Selling: TPI Composites, Inc. (NASDAQ:TPIC) COO Sells 1,397 Shares of Stock

TPI Composites, Inc. (NASDAQ:TPIC) COO Ramesh Gopalakrishnan sold 1,397 shares of the firm’s stock in a transaction that occurred on Tuesday, June 8th. The stock was sold at an average price of $45.68, for a total transaction of $63,814.96. Following the transaction, the chief operating officer now directly owns 3,728 shares in the company, valued at $170,295.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Ramesh Gopalakrishnan also recently made the following trade(s):

  • On Thursday, June 3rd, Ramesh Gopalakrishnan sold 6,392 shares of TPI Composites stock. The stock was sold at an average price of $45.25, for a total transaction of $289,238.00.
  • On Tuesday, May 18th, Ramesh Gopalakrishnan sold 1,420 shares of TPI Composites stock. The stock was sold at an average price of $44.41, for a total transaction of $63,062.20.
  • On Monday, March 15th, Ramesh Gopalakrishnan sold 997 shares of TPI Composites stock. The stock was sold at an average price of $52.30, for a total transaction of $52,143.10.

Shares of NASDAQ:TPIC traded down $2.00 during mid-day trading on Thursday, reaching $44.51. 717,215 shares of the company’s stock were exchanged, compared to its average volume of 884,407. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of -67.51 and a beta of 1.58. The firm’s fifty day simple moving average is $50.20. The company has a quick ratio of 1.25, a current ratio of 1.28 and a debt-to-equity ratio of 0.93. TPI Composites, Inc. has a twelve month low of $20.27 and a twelve month high of $81.36.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings results on Thursday, May 6th. The industrial products company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The company had revenue of $404.68 million for the quarter, compared to analyst estimates of $414.90 million. TPI Composites had a negative net margin of 1.18% and a positive return on equity of 13.12%. TPI Composites’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.01) earnings per share. Sell-side analysts anticipate that TPI Composites, Inc. will post 0.54 EPS for the current fiscal year.

Large investors have recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new position in shares of TPI Composites during the first quarter worth $31,000. Orion Capital Management LLC acquired a new position in shares of TPI Composites during the fourth quarter worth $53,000. Exchange Traded Concepts LLC lifted its holdings in shares of TPI Composites by 251.5% during the first quarter. Exchange Traded Concepts LLC now owns 1,160 shares of the industrial products company’s stock worth $65,000 after purchasing an additional 830 shares during the period. IFP Advisors Inc acquired a new position in shares of TPI Composites during the first quarter worth $79,000. Finally, Nisa Investment Advisors LLC acquired a new position in shares of TPI Composites during the fourth quarter worth $84,000. Institutional investors own 81.86% of the company’s stock.

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of TPI Composites from $51.00 to $46.00 and set a “neutral” rating on the stock in a research report on Monday, March 8th. Roth Capital increased their price target on shares of TPI Composites from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, March 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $68.00 price target on shares of TPI Composites in a research report on Monday, May 17th. Piper Sandler assumed coverage on shares of TPI Composites in a research report on Thursday. They set a “neutral” rating and a $50.00 price target on the stock. Finally, Evercore ISI assumed coverage on shares of TPI Composites in a research report on Monday, April 19th. They issued an “outperform” rating and a $65.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $58.92.

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). 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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