TPI Composites, Inc. (NASDAQ:TPIC) CEO William E. Siwek Buys 10,000 Shares

TPI Composites, Inc. (NASDAQ:TPIC - Get Free Report) CEO William E. Siwek purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average price of $2.19 per share, for a total transaction of $21,900.00. Following the acquisition, the chief executive officer now owns 218,347 shares in the company, valued at approximately $478,179.93. This trade represents a 4.80 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

TPI Composites Stock Performance

Shares of TPIC stock traded up $0.26 during trading hours on Thursday, reaching $2.38. The company had a trading volume of 1,468,834 shares, compared to its average volume of 914,813. The stock's fifty day simple moving average is $3.91 and its 200 day simple moving average is $4.11. The company has a market capitalization of $113.20 million, a P/E ratio of -0.62 and a beta of 1.93. TPI Composites, Inc. has a twelve month low of $1.90 and a twelve month high of $5.75.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of TPI Composites in a research note on Thursday, October 17th. They set a "hold" rating and a $5.00 price objective for the company. Evercore ISI upgraded TPI Composites to a "strong-buy" rating in a research report on Monday, August 12th. Piper Sandler increased their price objective on TPI Composites from $3.50 to $3.70 and gave the company a "neutral" rating in a research note on Monday, August 12th. Finally, Bank of America reduced their target price on shares of TPI Composites from $7.00 to $4.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $4.74.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in TPI Composites in the 2nd quarter valued at about $44,000. Intech Investment Management LLC acquired a new position in shares of TPI Composites in the 3rd quarter valued at approximately $65,000. State Board of Administration of Florida Retirement System raised its position in shares of TPI Composites by 55.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,680 shares of the industrial products company's stock valued at $49,000 after purchasing an additional 5,930 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of TPI Composites during the 3rd quarter valued at approximately $88,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of TPI Composites in the first quarter worth $77,000. 75.24% of the stock is owned by institutional investors and hedge funds.

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) in the United States, Mexico, Europe, the Middle East, Africa, and India. It also provides composite solutions for the automotive industry; and field service inspection and repair services comprising diagnostic, repair, and maintenance services for wind blades to OEM customers, and wind farm owners and operators.