The stock of TPI Composites Inc. (NASDAQ:TPIC) decreased by -$1.04 on Tuesday to finish at $4.80, down -17.81 percent. The last five days have seen an average of 1,725,360 shares of common stock traded. 9 times new highs were reached in the current year, with a fall of -$5.34. The average number of shares traded over the last 20 days was 2,052,225, while the average volume over the last 50 days totaled 1,296,786.
TPIC stock dropped -52.71% since last month. On 08/15/23, the company’s shares reached a one-month low of $4.77. The stock touched a high of $24.49 on 01/18/23, after rallying from a low of $5.30 in 52 weeks. The price of TPIC stock has declined by -52.66% or -$5.34 this year, reaching a new high 9 times. Still, the stock price is down -80.40% from the 52-week high.
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Insider Transactions
TPIC stock investors should be aware that TPI Composites Inc. (TPIC) stock had its last reported insider trading activity 75 days ago on Jun 02. On Jun 02, President, Automotive Lavine Jerrold I sold 19,040 shares at $11.14 each. This transaction resulted in the insider making $212,176. On Sep 08, BAM Partners Trust sold 3,963,416 shares at a price of US$18.85. After the transaction, the insider now owns 12,263 shares. 10% Owner Opps TPIC Holdings, LLC had earlier sold 3,963,416 shares on Sep 08 for $18.85 a share. The transaction was completed for $74,710,392.
Financial Health
For the three months ended June 29, TPI Composites Inc.’s quick ratio was 1.50, while its current ratio was 1.50, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is -2.00% percent. TPI Composites Inc.’s EBITDA margin for the year ended June 29 was 1.69%, whereas its operating margin stood at -5.20% for the same period. Based on annual data, it had gross profit of $14.64 million and revenue of $1.52 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. TPIC’s return on assets (ROA) during the last 12 months has been -20.00%. There was a -51.40% return on investment (ROI) in the past year.
Earnings Surprise
According to TPI Composites Inc.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $380.63 million, while revenues fell by -1.11% to $404.07 million. It was predicted that TPI Composites Inc.’s quarterly earnings would be -$1.89, but it ended up being -$1.01, beating the consensus by -87.10%. EBITDA was -$51.48 million for the quarter. At the end of TPI Composites Inc.’s most recent quarter ended June 29, its liabilities totaled 1.02 billion, while its total debt was $338.2 million. Equity owned by shareholders amounts to $42.57 million.
Technical Picture
Here’s a quick look at TPI Composites Inc.’s (TPIC) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 22.42%, suggesting the stock is oversold, with a 122.10% historical volatility rate.
The stochastic %K and %D were 8.94% and 13.25% respectively, while the average true range (ATR) was 0.74. Based on the 14-day stochastic reading of 0.82%, the RSI (14) reading is 26.21%. On the 9-day MACD Oscillator, the stock is at -0.42, and the 14-day reading is at -0.40.
Analyst Ratings
TPI Composites Inc. (NASDAQ: TPIC) was downgraded by ROTH MKM to a a Neutral rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned TPI Composites Inc. (TPIC) an Overweight rating. TPIC is a stock that is recommended for selling by 0 brokerage firms, while 10 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 5 others recommend it as a buy.
What is TPIC’s price target for the next 12 months?
The current consensus forecast for the stock is between $6.00 and $17.00, with a median target price of $12.50. In analyzing these forecasts, the average price target given by analysts for TPI Composites Inc. (TPIC) is $12.18.
