As of Wednesday close, TPI Composites Inc.’s (NASDAQ:TPIC) stock was down -$0.27, moving down -5.08 percent to $5.05. The average number of shares traded per day over the past five days has been 1,222,620 shares. 3 times new highs have been achieved over the past 5 days, with a $0.17 gain in that time frame. In the last twenty days, the average volume was 1,627,345, while in the previous 50 days, it was 1,447,132.
Since last month, TPIC stock retreated -12.02%. Shares of the company fell to $4.31 on 08/24/23, the lowest level in the past month. A 52-week high of $19.87 was reached on 01/18/23 after having rallying from a 52-week low of $4.31. Since the beginning of this year, TPIC’s stock price has dropped by -50.20% or -$5.09, and marked a new high 9 times. However, the stock has declined by -74.58% since its 52-week high.
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TPIC stock investors should be aware that TPI Composites Inc. (TPIC) stock had its last reported insider trading activity 6 days ago on Aug 25. Miller Ryan D., the Chief Financial Officer of the company, purchased of 10,000 shares for $4.45 on Aug 25. It resulted in a $44,530 investment by the insider. Jordan Tyrone Michael added 2,000 shares at an average price of $5.16 on Aug 21. The insider now owns 23,840 shares following the transaction. On Aug 18, President and CEO Siwek William E bought 10,000 shares at $4.90 apiece. The transaction was valued at $48,991.
Financial Health
In the three months ended June 29, TPI Composites Inc.’s quick ratio stood at 1.50, while its current ratio was 1.50, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is -2.00% percent. In the year ended June 29, EBITDA margin amounted to 1.69%, whereas operating margins totaled -5.20%. Based on annual data, TPIC earned $14.64 million in gross profit and brought in $1.52 billion in revenue.
In TPI Composites Inc.’s quarter-end financial report for June 29, it reported total debt of $128.74 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. TPIC’s revenue fell -18.81% to $403.71 million during the quarter, while net income inched up to $380.63 million. While analysts expected TPI Composites Inc. to report -$1.07 quarterly earnings, the actual figure was -$1.89 per share, beating the consensus estimate by -76.60%. During the quarter, the company generated -$51.48 million in EBITDA. The liabilities of TPI Composites Inc. were 1.02 billion at the end of its most recent quarter ended June 29, and its total debt was $338.2 million. The value of shareholders’ equity is $42.57 million.
Technical Picture
This quick technical analysis looks at TPI Composites Inc.’s (TPIC) price momentum. With a historical volatility rate of 91.73%, the RSI 9-day stood at 42.57% on 30 August.
With respect to its five-day moving average, the current TPI Composites Inc. price is up by +3.48% percent or $0.17. At present, TPIC shares trade -15.41% below its 20-day simple moving average and -56.05% percent below its 100-day simple moving average. However, the stock is currently trading approximately -52.89% below its SMA50 and -57.35% below its SMA200.
Stochastic coefficient K was 36.90% and Stochastic coefficient D was 28.17%, while ATR was 0.50. Given the Stochastic reading of 34.26% for the 14-day period, the RSI (14) reading has been calculated as 38.47%. As of today, the MACD Oscillator reading stands at 0.24, while the 14-day reading stands at 0.10.
Analyst Ratings
TPI Composites Inc. downgraded its rating on TPI Composites Inc. (NASDAQ: TPIC) to a Neutral in a note to investors on July 27, 2023. The analysts firm previously had a Buy rating on the stock.TPI Composites Inc. (TPIC) has been rated Overweight by analysts. According to 0 brokerage firms, TPIC is a sell, and 10 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate TPI Composites Inc. stock as buy, with 5 recommending it as overweight.
With a median target price of $12.50, the current consensus forecast for the stock is $6.00 – $17.00. Based on these forecasts, analysts predict TPI Composites Inc. (TPIC) will achieve an average price target of $11.89.
