TPI Composites Inc. [NASDAQ:TPIC] shares are showing an active tape with a current price of $35.06 on Wednesday.
TPI Composites Inc. is in the Industrials sector under the Specialty Industrial Machinery industry. This week, we are watching the stock hit price per sales of 0.82 with an earning per share of -2.04.
For the year, the stock is trading 89.41% and the five-day change stands at 21.06%. As a point of reference, the S&P 500 is trading 1.71% YTD.
The Price is right
Holding a Market Cap of $1.26 billion, TPI Composites Inc. has seen a trading range over the last year of $9.19-$33.58.
For the last five days, TPIC is up from its last closing price. The average shares trading hands each day is 482.37K.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for TPIC. When we apply the Elder Force Index to TPI Composites Inc., we are seeing an Elder Force Indicator number of 4613607.7.
The recent performance of the stock is another area that can tell traders how to proceed. TPIC is presenting an interesting case. This can be seen in the Forward P/E ratio, which currently stands at 22.69.
In the last quarter, TPIC made a profit of -4.75 million. TPI Composites Inc. also saw quarter revenue growth year over year of 39.52%.
Looking at popular technical indicators, the company’s 5-day moving average is 31.27 compared to the 50-day moving average of 6.55%. So, we are clearly seeing an upward trajectory here.
The Relative Strength Index or RSI is an indicator ranging between 0 and 100 that traders use to determine if a stock is “overbought” or “oversold.” A strong uptrend tending to reach into the “overbought” status is above 70, while a downward trend will stay around the 30 mark. TPIC currently holds a 9-day RSI of 81.46%, while 100-day RSI stands at 58.02%.
Another indicator we believe is worth keeping tabs on is the Moving Average Convergence Divergence or MACD. Similar to the concept of the Force Index — on the basis of price momentum — the MACD gives traders a tool to measure the turning point of a stock even during rapid fluctuations in price. Buy and sell signals are determined by a stock’s relation to the zero line, so if a stock is above a zero line for many weeks it might be a “buy.” On the other hand, if a stock is below the zero line consistently, it might be one to stay away from. Also, if the MACD line reaches a peak and dips, its momentum may be waning. TPIC’s 9-day MACD is 2.75 and the company’s 100-day MACD stands at 6.25.
Another area that is important to analyze is insider moves and majority shareholders. While this is not always an error-free way to tell what the future holds for a stock, you can maybe gather important information from reading the tea leaves about who is buying and selling.
The major holders for this stock are 1.65% by insiders and 104.69% by institutions. Regarding institutional holdings, Blackrock Inc. owns 6.38%, while the second top holder, River Road Asset Management, LLC, currently owns 4.58%.
Over the last six months, insiders have sold 60,000 with the most recent transaction from Weiss Daniel G, Director, with a sell at price 27.73 per share.
Overall, the recommended rating for TPIC is Strong Buy. Currently, the company has 12 analysts watching the stock, and the average quarterly earnings estimate is 0.24. Quarterly revenue estimates are averaging 408.14M with the high estimate reaching 446.9M and the low at 379M.
To review, the current 1-year target estimate is sitting at 32.58, while the current price 35.06. Based on this, we expect some pullback on the stock over time given our above analysis.