In the last trading session, 1.19 million TPI Composites Inc (NASDAQ:TPIC) shares changed hands as the company’s beta touched 1.93. With the company’s per share price at $2.64 changed hands at $0.15 or 6.01% during last session, the market valuation stood at $112.60M. TPIC’s last price was a discount, traded about -460.61% off its 52-week high of $14.80. The share price had its 52-week low at $1.63, which suggests the last value was 38.26% up since then. When we look at TPI Composites Inc’s average trading volume, we note the 10-day average is 2.38 million shares, with the 3-month average coming to 1.72 million.
Analysts gave the TPI Composites Inc (TPIC) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.43. If we narrow down to specifics, the data shows that 0 out of 14 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 10 recommended TPIC as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. TPI Composites Inc’s EPS for the current quarter is expected to be -$0.9.
TPI Composites Inc (NASDAQ:TPIC) trade information
Instantly TPIC was in green as seen at the end of in last trading. With action 24.76%, the performance over the past five days has been green. The jump to weekly highs of 3.11 on Friday, 11/17/23 added 6.01% to the stock’s daily price. The company’s shares are showing year-to-date downside of -73.92%, with the 5-day performance at 24.76% in the green. However, in the 30-day time frame, TPI Composites Inc (NASDAQ:TPIC) is 21.61% up. Looking at the short shares, we see there were 8.87 million shares sold at short interest cover period of 4.68 days.
The consensus price target for the stock as assigned by Wall Street analysts is $5.58, meaning bulls need an upside of 52.69% from its current market value. According to analyst projections, TPIC’s forecast low is $2.00 with $13.00 as the target high. To hit the forecast high, the stock’s price needs a -392.42% plunge from its current level, while the stock would need to tank 24.24% for it to hit the projected low.
TPI Composites Inc (TPIC) estimates and forecasts
Data shows that the TPI Composites Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -74.76% over the past 6 months, a -92.78% in annual growth rate that is considerably lower than the industry average of -2.30%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for TPI Composites Inc will rise 34.80%, while the growth in revenue is estimated to hit 16.70% for the next quarter. Year-over-year growth is forecast to reach -1.40% down from the last financial year.
Consensus estimates given by 11 financial analysts project the company’s revenue in the current quarter to hit an average of $343.59 million. 9 analysts are of the opinion that TPI Composites Inc’s revenue for the quarter ending Mar 2024 will be $343.55 million. The company’s revenue for the corresponding quarters a year ago was $402.28 million and $378.44 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -14.60%. The estimates for the next quarter sales put growth at -9.20%.
The 2023 estimates are for TPI Composites Inc earnings to decrease by -74.31%.
TPI Composites Inc is expected to release its next quarterly earnings report on November 02.