TPI Composites Inc (NASDAQ: TPIC) In 2024: Is This Company Worth Thinking About Investing In?

In the last trading session, 1.01 million shares of the TPI Composites Inc (NASDAQ:TPIC) were traded, and its beta was 2.00. Most recently the company’s share price was $2.56, and it changed around -$0.12 or -4.48% from the last close, which brings the market valuation of the company to $120.93M. TPIC currently trades at a discount to its 52-week high of $13.24, offering almost -417.19% off that amount. The share price’s 52-week low was $1.63, which indicates that the current value has risen by an impressive 36.33% since then. We note from TPI Composites Inc’s average daily trading volume that its 3-month average coming to 1.04 million.

TPI Composites Inc stock received a consensus recommendation rating of Buy, based on a mean score of 2.29. If we narrow it down even further, the data shows that 0 out of 7 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 1 recommended TPIC as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. TPI Composites Inc is expected to report earnings per share of -$0.74 for the current quarter.

TPI Composites Inc (NASDAQ:TPIC) trade information

Instantly TPIC has showed a red trend with a performance of -4.48% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -38.16% year-to-date, but still down -3.76% over the last five days. On the other hand, TPI Composites Inc (NASDAQ:TPIC) is -11.11% down in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $33, which translates to bulls needing to increase their stock price by 92.24% from its current value. Analyst projections state that TPIC is forecast to be at a low of $28 and a high of $42.

TPI Composites Inc (TPIC) estimates and forecasts

TPI Composites Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 17.70 percent over the past six months and at a 64.66% annual growth rate that is well above the industry average of 9.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -2.80% in revenue this quarter, and will report an increase of 67.20% in the next quarter. The year-over-year growth rate is expected to be -6.90%, down from the previous year.

Consensus estimates provided by 12 financial analysts predict the company will bring in an average of $296.28 million in revenue for the current quarter. 12 analysts expect TPI Composites Inc to make $314.91 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $378.44 million and $381.27 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -21.70%. Forecasts for the next quarter put sales growth at -17.40%.