TPI Composites Inc (NASDAQ: TPIC) stock fell -2.46% on Monday to $2.58 against a previous-day closing price of $2.64. With 0.84 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.71 million shares. The 52-week range on TPIC shows that it touched its highest point at $14.80 and its lowest point at $1.63 during that stretch. It currently has a 1-year price target of $5.58. Beta for the stock currently stands at 1.95.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TPIC was up-trending over the past week, with a rise of 31.63%, but this was up by 29.65% over a month. Three-month performance dropped to -47.56% while six-month performance fell -75.82%. The stock lost -77.13% in the past year, while it has lost -74.56% so far this year. A look at the trailing 12-month EPS for TPIC yields -5.87 with Next year EPS estimates of -1.28. For the next quarter, that number is -0.90. This implies an EPS growth rate of -74.31% for this year and 75.27% for next year.
Float and Shares Shorts:
At present, 42.04 million TPIC shares are outstanding with a float of 41.38 million shares on hand for trading. On Oct 30, 2023, short shares totaled 8.87 million, which was 20.84% higher than short shares on Sep 28, 2023. In addition to Mr. William E. Siwek as the firm’s President, CEO & Director, Mr. Ryan D. Miller serves as its Chief Financial Officer.
Through their ownership of 104.89% of TPIC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 49.05% of TPIC, in contrast to 41.19% held by mutual funds. Shares owned by individuals account for 17.19%. As the largest shareholder in TPIC with 7.85% of the stake, BlackRock Fund Advisors holds 3,340,034 shares worth 3,340,034. A second-largest stockholder of TPIC, Point72 Asset Management LP, holds 2,132,171 shares, controlling over 5.01% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in TPIC, holding 2,076,521 shares or 4.88% stake. With a 3.05% stake in TPIC, the CS Invt. Fds. 2 – is the largest stakeholder. A total of 1,299,872 shares are owned by the mutual fund manager. The Handelsbanken Hallbar Energi, which owns about 3.05% of TPIC stock, is the second-largest Mutual Fund holder. It holds 1,299,695 shares valued at 3.0 million. Vanguard Total Stock Market ETF holds 2.91% of the stake in TPIC, owning 1,239,552 shares worth 2.86 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TPIC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With TPIC analysts setting a high price target of $13.00 and a low target of $2.00, the average target price over the next 12 months is $5.58. Based on these targets, TPIC could surge 403.88% to reach the target high and fall by -22.48% to reach the target low. Reaching the average price target will result in a growth of 116.28% from current levels.
Summary of Insider Activity:
Insiders traded TPIC stock several times over the past three months with 2 Buys and 0 Sells. In these transactions, 12,000 shares were bought while 0 shares were sold. The number of buy transactions has increased to 28 while that of sell transactions has risen to 15 over the past year. The total number of shares bought during that period was 441,667 while 125,122 shares were sold.