Portolan Capital Management LLC recently announced the acquisition of new stake in Tecnoglass Inc. (NYSE:TGLS). The institutional investor has increased its shareholding in the Industrials company by 74.46% to 1.1 million shares with purchase of 0.47 million shares. This fresh investment now brings its stake to 2.31% valued currently at $33.83 million. In addition, Medina Singh Partners LLC raised its holdings by 82780.0 to 0.68 million shares. And Millennium Management LLC has lifted its position by 43.90% or 0.19 million shares – to 0.61 million shares.
With over 0.52 million Tecnoglass Inc. (TGLS) shares trading Tuesday and a closing price of $32.83 on the day, the dollar volume was approximately $17.19 million. The shares have shown a positive half year performance of 73.70% and its price on 01/17/23 gained nearly 1.89%. Currently, there are 47.67M common shares owned by the public and among those 20.67M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for TGLS have a consensus price objective of $38.80. The analysts have set the share’s price value over the next 12 months at a high of $43.00 and a low of $35.00. The average price target is 15.39% above its recent price level and an upside to the estimated low will see the stock gain 6.2% over that period. But an upside of 23.65% will see the stock hit the forecast high price target while median target price for the stock is $40.00.
Insiders at the company have transacted a total of 3 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 1 of these insider trades were purchases, accounting for 304,759 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 60,000 shares.
The top 3 mutual fund holders in Tecnoglass Inc. are American Century Small Cap Value, Pear Tree Polaris Foreign Value S, and Fidelity Strategic Advisers Small. American Century Small Cap Value owns 2.22 million shares of the company’s stock, all valued at over $68.31 million. The company sold -0.18 million shares recently to bring their total holdings to about 4.66% of the shares outstanding. Fidelity Strategic Advisers Small sold 9263.0 shares to bring its total holdings to over 0.48 million shares at a value of $14.73 million. Fidelity Strategic Advisers Small now owns shares totaling to 1.00% of the shares outstanding.
Shares of Tecnoglass Inc. (NYSE: TGLS) opened at $32.23, up $0.01 from a prior closing price of $32.22. However, the script later moved the day high at 34.52, up 1.89%. The company’s stock has a 5-day price change of 6.63% and 67.33% over the past three months. TGLS shares are trading 6.69% year to date (YTD), with the 12-month market performance up to 47.42% higher. It has a 12-month low price of $16.05 and touched a high of $32.90 over the same period. TGLS has an average intraday trading volume of 222.30K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.89%, 13.43%, and 40.54% respectively.
Institutional ownership of Tecnoglass Inc. (NYSE: TGLS) shares accounts for 26.40% of the company’s 47.67M shares outstanding. Mutual fund holders own 13.32%, while other institutional holders and individual stakeholders account for 57.78% and 12.47% respectively.
It has a market capitalization of $1.55B and a beta (3y monthly) value of 1.72. The stock’s trailing 12-month PE ratio is 12.98, while the earnings-per-share (ttm) stands at $2.53. The company has a PEG of 13.80 and a Quick Ratio of 1.40 with the debt-to-equity ratio at 0.54. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.61% over the week and 5.44% over the month.
Analysts forecast that Tecnoglass Inc. (TGLS) will achieve an EPS of $0.71 for the current quarter, $0.67 for the next quarter and $2.86 for 2023. The lowest estimate earnings-per-share for the quarter is $0.69 while analysts give the company a high EPS estimate of $0.73. Comparatively, EPS for the current quarter was $0.45 a year ago. Earnings per share for the fiscal year are expected to increase by 177.80%, and 8.50% over the next financial year. EPS should shrink at an annualized rate of 0.94% over the next five years, compared to 13.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Tecnoglass Inc. (TGLS) as a “Strong Buy” at a consensus score of 1.40. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the TGLS, a number of firms have released research notes about the stock. Sidoti stated their Buy rating for the stock in a research note on December 10, 2021, with the firm’s price target at $34. B. Riley Securities coverage for the Tecnoglass Inc. (TGLS) stock in a research note released on November 09, 2021 offered a Buy rating with a price target of $37. Sidoti was of a view on September 21, 2021 that the stock is Neutral, while Raymond James gave the stock Strong Buy rating on May 10, 2021, issuing a price target of $15. DA Davidson on their part issued Buy rating on December 14, 2020.