During the last session, TPI Composites Inc. (NASDAQ:TPIC)’s traded shares were 1.07 million, with the beta value of the company hitting 1.56. At the end of the trading day, the stock’s price was $18.78, reflecting an intraday gain of 17.08% or $2.74. The 52-week high for the TPIC share is $44.61, that puts it down -137.54 from that peak though still a striking 50.85% gain since the share price plummeted to a 52-week low of $9.23. The company’s market capitalization is $514.95M, and the average intraday trading volume over the past 10 days was 0.76 million shares, and the average trade volume was 567.65K shares over the past three months.
TPI Composites Inc. (TPIC) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.60. TPIC has a Sell rating from 0 analyst(s) out of 14 analysts who have looked at this stock. 7 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 5 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.41.
TPI Composites Inc. (NASDAQ:TPIC) trade information
TPI Composites Inc. (TPIC) registered a 17.08% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 17.08% in intraday trading to $18.78 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is 29.79%, and it has moved by 61.06% in 30 days. Based on these gigs, the overall price performance for the year is -51.99%. The short interest in TPI Composites Inc. (NASDAQ:TPIC) is 4.55 million shares and it means that shorts have 9.31 day(s) to cover.
The consensus price target of analysts on Wall Street is $17.25, which implies a decrease of -8.87% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $10.00 and $27.00 respectively. As a result, TPIC is trading at a discount of -43.77% off the target high and 46.75% off the low.
TPI Composites Inc. (TPIC) estimates and forecasts
Statistics show that TPI Composites Inc. has outperformed its competitors in share price, compared to the industry in which it operates. TPI Composites Inc. (TPIC) shares have gone up 66.34% during the last six months, with a year-to-date growth rate more than the industry average at 55.70% against 11.90. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 62.00% this quarter and then jump 68.70% in the quarter after that. In the rating firms’ projections, revenue will increase 1.00% compared to the previous financial year.
Revenue for the current quarter is expected to be $423.46 million as predicted by 15 analyst(s). Meanwhile, a consensus of 14 analyst(s) estimates revenue growth to $474.02 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $458.84 million and $479.6 million respectively. In this case, analysts expect current quarter sales to shrink by -7.70% and then drop by -1.20% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -41.20%. While earnings are projected to return -726.50% in 2022, the next five years will return 20.00% per annum.
TPI Composites Inc. is due to release its next quarterly earnings between February 23 and February 28. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
TPI Composites Inc. (NASDAQ:TPIC)’s Major holders
TPI Composites Inc. insiders own 2.73% of total outstanding shares while institutional holders control 96.33%, with the float percentage being 99.04%. Blackrock Inc. is the largest shareholder of the company, while 301 institutions own stock in it. As of Mar 30, 2022, the company held over 4.01 million shares (or 10.76% of all shares), a total value of $56.39 million in shares.
The next largest institutional holding, with 1.78 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 4.78% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $25.04 million.
Also, the Mutual Funds coming in first place with the largest holdings of TPI Composites Inc. (TPIC) shares are Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and iShares Global Clean Energy ETF. Data provided on Jun 29, 2022 indicates that Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF owns about 0.97 million shares. This amounts to just over 2.61 percent of the company’s overall shares, with a $12.15 million market value. The same data shows that the other fund manager holds slightly less at 0.93 million, or about 2.50% of the stock, which is worth about $11.63 million.