In yesterday’s Wall Street session, TPI Composites Inc (NASDAQ:TPIC) shares traded at $2.00, up 0.50% from the previous session.
TPIC stock price is now -43.53% away from the 50-day moving average and -45.53% away from the 200-day moving average. The market capitalization of the company currently stands at $95.13M.
With the price target reduced from $4 to $2, Morgan Stanley Downgraded its rating from Equal-Weight to Underweight for TPI Composites Inc (NASDAQ: TPIC). On October 17, 2024, Jefferies recently initiated its ‘Hold’ rating on the stock quoting a target price of $5, while ‘Raymond James’ rates the stock as ‘Mkt Perform’
In other news, Siwek William E, President and CEO bought 10,000 shares of the company’s stock on Nov 13 ’24. The stock was bought for $21,900 at an average price of $2.19. Upon completion of the transaction, the President and CEO now directly owns 218,347 shares in the company, valued at $0.44 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 12 ’24, Chief Financial Officer Miller Ryan D. bought 10,000 shares of the business’s stock. A total of $22,400 was incurred on buying the stock at an average price of $2.24. This leaves the insider owning 32,239 shares of the company worth $64478.0. A total of 7.85% of the company’s stock is owned by insiders.
During the past 12 months, TPI Composites Inc has had a low of $1.90 and a high of $5.75. The fifty day moving average price for TPIC is $3.5892 and a two-hundred day moving average price translates $3.67615 for the stock.
The latest earnings results from TPI Composites Inc (NASDAQ: TPIC) was released for 2024-09-30. The net profit margin was -13.87% and return on equity was -352.92% for TPIC. The company reported revenue of $380.76 million for the quarter, compared to $370.24 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 2.84 percent.
