16.32% +0.39

TPI Composites Inc (TPIC)

Overview News Price History Option Chain Why TPIC Down? Discussions Forecast

Why is TPI Composites Inc (TPIC) Stock down?

We've noticed a 6.07% decline in TPI Composites Inc (TPIC) stock during the 2024-04-25 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!

27 Nov, 2023:

Shares of TPI Composites Inc (TPIC) dropped by 5.11% from $2.35 to $2.23 in the trading on Monday, November 27, 2023. The reason why TPIC is down today is due to the announcement of Charles (Chuck) Stroo's appointment as Chief Operating Officer, Wind, as he takes charge of TPIC's global wind manufacturing operations. The company's CEO, Bill Siwek, expressed optimism about Stroo's operational experience in steering TPIC through challenging times and positioning it for long-term growth. The market reacted to this leadership change, contributing to the fluctuation in TPIC's stock price on that trading day.

16 Nov, 2023:

Shares of TPI Composites Inc (TPIC) dropped by 14.70% from $2.92 to $2.49 in the trading on Thursday, November 16, 2023. The reason why TPIC is down today is due to broader market movements during earnings season, with disappointing results from major companies like Cisco, Walmart, Burberry, Alibaba, and Palo Alto Networks affecting investor sentiment. In contrast, Intel's shares rose, standing out as the S&P 500's top gainers, achieving their highest closing price of the year. Bond prices rallied, with the 10-year yield falling to 4.444%, and industrial output declined, partly due to auto strikes. Oil prices weakened, with front-month U.S. crude settling just under $73 a barrel. The overall market turbulence during earnings season had a substantial impact on TPIC's stock performance on that specific trading day.

03 Nov, 2023:

Shares of TPI Composites Inc (TPIC) dropped by 15.62% from $2.40 to $2.03 in the trading on Friday, November 03, 2023. The reason why TPIC is down today is due to disappointing Q3 results reported by the company.

Net Sales for the three months ending September 30, 2023, amounted to $372.9 million, reflecting a 3.0% decrease compared to the same period last year.
Net loss from continuing operations attributable to common stockholders for the same period in 2023 was $72.8 million, significantly higher than the loss of $21.8 million reported in the same period the previous year.
Adjusted EBITDA registered a loss of $27.4 million for the three months ending September 30, 2023, indicating a decrease of $32.5 million compared to the same period last year. These disappointing financial results contributed to the decline in TPIC's stock price on that trading day.