Short Interest in TPI Composites, Inc. (NASDAQ:TPIC) Grows By 16.7%

TPI Composites, Inc. (NASDAQ:TPICGet Rating) saw a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 4,470,000 shares, an increase of 16.7% from the March 31st total of 3,830,000 shares. Currently, 12.4% of the company’s stock are sold short. Based on an average daily trading volume, of 1,040,000 shares, the short-interest ratio is currently 4.3 days.

Shares of TPIC opened at $12.01 on Wednesday. The firm has a market cap of $447.47 million, a PE ratio of -2.76 and a beta of 1.58. The stock’s fifty day moving average price is $13.42 and its two-hundred day moving average price is $16.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.41 and a quick ratio of 1.38. TPI Composites has a 1 year low of $9.23 and a 1 year high of $52.18.

TPI Composites (NASDAQ:TPICGet Rating) last issued its quarterly earnings data on Thursday, February 24th. The industrial products company reported ($1.57) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.62) by $0.05. TPI Composites had a negative return on equity of 71.53% and a negative net margin of 9.21%. The business had revenue of $389.50 million for the quarter, compared to analysts’ expectations of $386.31 million. During the same quarter in the prior year, the firm posted $0.27 EPS. The firm’s quarterly revenue was down 16.3% on a year-over-year basis. Sell-side analysts anticipate that TPI Composites will post -1.81 earnings per share for the current fiscal year.

TPIC has been the topic of several analyst reports. Zacks Investment Research raised TPI Composites from a “sell” rating to a “hold” rating in a research report on Wednesday, March 2nd. Raymond James raised TPI Composites from an “outperform” rating to a “strong-buy” rating and cut their price objective for the stock from $40.00 to $25.00 in a research report on Tuesday, January 4th. Piper Sandler cut their price objective on TPI Composites from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, March 14th. Morgan Stanley reissued an “equal weight” rating and issued a $21.00 price objective (down previously from $37.00) on shares of TPI Composites in a research report on Monday, February 28th. Finally, Stifel Nicolaus cut their price objective on TPI Composites from $27.00 to $17.00 in a research report on Friday, March 11th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $28.62.

Several institutional investors have recently made changes to their positions in the company. Ensign Peak Advisors Inc bought a new position in shares of TPI Composites in the fourth quarter valued at approximately $35,000. Dark Forest Capital Management LP bought a new position in shares of TPI Composites in the third quarter valued at approximately $52,000. Exane Derivatives bought a new position in shares of TPI Composites in the first quarter valued at approximately $71,000. Van ECK Associates Corp bought a new position in shares of TPI Composites in the third quarter valued at approximately $84,000. Finally, SG Americas Securities LLC bought a new position in shares of TPI Composites in the first quarter valued at approximately $129,000.

TPI Composites Company Profile (Get Rating)

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.

Featured Articles

Receive News & Ratings for TPI Composites Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TPI Composites and related companies with MarketBeat.com's FREE daily email newsletter.