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TPI Composites, Inc. (NASDAQ:TPIC) experienced a series of stock acquisitions by Dere Construction Taahhut A.S., a ten percent owner, according to a recent SEC filing. The transactions, which took place throughout February, involved the purchase of a total of 225,000 shares of common stock, amounting to approximately $338,290. The purchases were executed at prices ranging from $1.25 to $1.59 per share. These acquisitions come as the stock trades near its 52-week low of $1.01, with the company’s market capitalization currently standing at $54 million.
These acquisitions were spread over several days, with the largest purchase occurring on February 24, when 80,000 shares were acquired. Other notable transactions included 66,000 shares on February 20 and 49,000 shares on February 4. The purchases reflect Dere Construction’s continued investment in TPI Composites, a company known for its focus on manufacturing composite wind blades and related precision molding and assembly systems.
The transactions were conducted in the open market and reflect direct ownership by Dere Construction, as noted in the filing. The purchases align with the firm’s strategy of enhancing its stake in TPI Composites, potentially signaling confidence in the company’s future performance. InvestingPro analysis shows the stock currently trades below its Fair Value, with analyst price targets ranging from $1.25 to $8.00 per share. Subscribers can access 18 additional ProTips and a comprehensive Pro Research Report for deeper insights into the company’s financial health.
In other recent news, TPI Composites has announced a significant workforce reduction at its Turkish facilities, citing decreased demand for wind blades in Europe and a hyperinflationary environment in Turkey. This restructuring plan, outlined in an SEC filing, is expected to incur pre-tax charges between $9 million and $11 million, impacting the company’s financials in early 2025. Meanwhile, JPMorgan has downgraded TPI Composites from Overweight to Neutral, highlighting concerns over U.S. wind incentives, tariff structures, and competition from Chinese manufacturers. These factors are contributing to a cautious outlook for the company. In contrast, Stifel has maintained a Hold rating on TPI Composites, noting strong utilization rates despite ongoing uncertainties in Turkey. The firm sees potential for growth, although it advises investors to maintain their current positions without additional buying or selling. Additionally, GE Vernova and other wind energy stocks have experienced declines following comments from President-elect Donald Trump opposing new windmills in the U.S. These developments reflect a complex landscape for the wind energy sector, marked by political and market challenges.
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