BidaskClub cut shares of Tecnoglass Inc. (NASDAQ:TGLS) from a sell rating to a strong sell rating in a research report report published on Tuesday, August 8th.
Separately, Zacks Investment Research lowered shares of Tecnoglass from a strong-buy rating to a hold rating in a research note on Tuesday, May 30th.
Shares of Tecnoglass (NASDAQ:TGLS) traded down 0.44% during trading on Tuesday, reaching $6.79. The company’s stock had a trading volume of 141,607 shares. The company has a 50 day moving average of $8.76 and a 200 day moving average of $10.14. The company’s market cap is $229.70 million. Tecnoglass has a 12-month low of $6.31 and a 12-month high of $12.93.
Tecnoglass (NASDAQ:TGLS) last posted its earnings results on Friday, August 11th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by $0.09. Tecnoglass had a positive return on equity of 16.94% and a negative net margin of 2.45%. The firm had revenue of $80.98 million for the quarter, compared to analysts’ expectations of $84.63 million. On average, analysts anticipate that Tecnoglass will post $0.41 EPS for the current fiscal year.
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In related news, Director Martha L. Byorum sold 5,000 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $9.27, for a total value of $46,350.00. Following the transaction, the director now directly owns 110,579 shares of the company’s stock, valued at approximately $1,025,067.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 67.20% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp raised its position in Tecnoglass by 15.6% in the second quarter. Northern Trust Corp now owns 34,006 shares of the company’s stock worth $317,000 after buying an additional 4,588 shares during the period. Wells Fargo & Company MN increased its stake in shares of Tecnoglass by 36.7% in the second quarter. Wells Fargo & Company MN now owns 22,001 shares of the company’s stock worth $205,000 after buying an additional 5,902 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Tecnoglass by 24.6% in the second quarter. Vanguard Group Inc. now owns 77,402 shares of the company’s stock worth $722,000 after buying an additional 15,261 shares in the last quarter. Boston Partners purchased a new stake in shares of Tecnoglass during the second quarter worth about $975,000. Finally, Kennedy Capital Management Inc. increased its stake in shares of Tecnoglass by 113.9% in the second quarter. Kennedy Capital Management Inc. now owns 292,636 shares of the company’s stock worth $2,727,000 after buying an additional 155,847 shares in the last quarter. 5.22% of the stock is currently owned by institutional investors and hedge funds.
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