Jose M. Daes Sells 275,810 Shares of Tecnoglass Inc. (NASDAQ:TGLS) Stock

Tecnoglass Inc. (NASDAQ:TGLS – Get Rating) CEO Jose M. Daes sold 275,810 shares of the stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $42.26, for a total transaction of $11,655,730.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Tecnoglass Trading Down 6.0 %

NASDAQ TGLS opened at $39.46 on Friday. The company has a quick ratio of 1.40, a current ratio of 2.06 and a debt-to-equity ratio of 0.48. The company has a fifty day simple moving average of $34.69 and a two-hundred day simple moving average of $28.20. Tecnoglass Inc. has a 12-month low of $16.05 and a 12-month high of $43.84.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TGLS. JPMorgan Chase & Co. raised its holdings in shares of Tecnoglass by 39.5% during the first quarter. JPMorgan Chase & Co. now owns 25,671 shares of the company’s stock worth $648,000 after purchasing an additional 7,269 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Tecnoglass by 107.4% during the first quarter. BlackRock Inc. now owns 994,989 shares of the company’s stock worth $25,114,000 after purchasing an additional 515,151 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Tecnoglass by 45.1% during the first quarter. Sei Investments Co. now owns 265,750 shares of the company’s stock worth $6,708,000 after purchasing an additional 82,567 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Tecnoglass by 39.7% during the first quarter. Lazard Asset Management LLC now owns 28,909 shares of the company’s stock worth $729,000 after purchasing an additional 8,212 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Tecnoglass by 11.8% during the first quarter. Renaissance Technologies LLC now owns 122,500 shares of the company’s stock worth $3,092,000 after purchasing an additional 12,900 shares during the last quarter. Hedge funds and other institutional investors own 23.64% of the company’s stock.

Wall Street Analysts Forecast Growth

TGLS has been the subject of a number of analyst reports. Raymond James increased their target price on shares of Tecnoglass from $35.00 to $42.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 28th. StockNews.com cut shares of Tecnoglass from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 11th. Robert W. Baird raised their price target on shares of Tecnoglass from $42.00 to $50.00 in a report on Friday, March 3rd. Finally, B. Riley raised their price target on shares of Tecnoglass from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, February 6th.

About Tecnoglass

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Tecnoglass, Inc is a holding company, which engages in the design, manufacturing, distribution, marketing, and installation of architectural glass, windows and associated aluminum products for the global commercial and residential construction market. It operates through the following geographical segments: Colombia, United States, Panama, and Other.