In last trading session, TPI Composites Inc (NASDAQ:TPIC) saw 1.01 million shares changing hands with its beta currently measuring 2.03. Company’s recent per share price level of $2.91 trading at $0.21 or 7.78% at ring of the bell on the day assigns it a market valuation of $137.47M. That closing price of TPIC’s stock is at a discount of -370.1% from its 52-week high price of $13.68 and is indicating a premium of 43.99% from its 52-week low price of $1.63. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.23 million shares which gives us an average trading volume of 1.37 million if we extend that period to 3-months.
TPI Composites Inc (NASDAQ:TPIC) trade information
Upright in the green during last session for gaining 7.78%, in the last five days TPIC remained trading in the green while hitting it’s week-highest on Wednesday, 03/20/24 when the stock touched $2.91 price level, adding 1.02% to its value on the day. TPI Composites Inc’s shares saw a change of -29.71% in year-to-date performance and have moved 3.93% in past 5-day. TPI Composites Inc (NASDAQ:TPIC) showed a performance of 6.20% in past 30-days. Number of shares sold short was 6.77 million shares which calculate 6.13 days to cover the short interests.
TPI Composites Inc (TPIC) estimates and forecasts
Statistics highlight that TPI Composites Inc is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -6.43% of value to its shares in past 6 months, showing an annual growth rate of 67.31% while that of industry is 6.10. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to decrease by -2.80% in the current quarter and calculating 66.70% increase in the next quarter. This year revenue growth is estimated to fall -7.30% from the last financial year’s standing.
11 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $293.07 million for the same. And 11 analysts are in estimates of company making revenue of $313.12 million in the next quarter that will end on Jun 2024. Company posted $378.44 million and $381.27 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -22.60% while estimating it to be -17.90% for the next quarter.
TPIC Dividends
TPI Composites Inc is more likely to be releasing its next quarterly report between May 01 and May 06 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
TPI Composites Inc (NASDAQ:TPIC)’s Major holders
Insiders are in possession of 2.95% of company’s total shares while institution are holding 79.78 percent of that, with stock having share float percentage of 82.21%. Investors also watch the number of corporate investors in a company very closely, which is 79.78% institutions for TPI Composites Inc that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at TPIC for having 4.95 million shares of worth $51.37 million. And as of Jun 29, 2023, it was holding 11.64% of the company’s outstanding shares.
The second largest institutional holder is Vanguard Group Inc, which was holding about 2.19 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 5.14% of outstanding shares, having a total worth of $22.7 million.
On the other hand, Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 1.24 million shares of worth $12.85 million or 2.91% of the total outstanding shares. The later fund manager was in possession of 0.96 million shares on Aug 30, 2023, making its stake of worth around $4.84 million in the company or a holder of 2.25% of company’s stock.
