Tecnoglass Inc. (TGLS) Issues Quarterly Earnings Results, Misses Expectations By $0.09 EPS
Tecnoglass Inc. (NASDAQ:TGLS) issued its earnings results on Friday. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.09, MarketWatch Earnings reports. Tecnoglass had a return on equity of 20.04% and a net margin of 3.42%.
Shares of Tecnoglass (TGLS) traded down 21.4273% during midday trading on Friday, reaching $6.3801. 197,359 shares of the company traded hands. The company has a market capitalization of $213.65 million, a PE ratio of 19.9378 and a beta of 0.44. The company has a 50 day moving average price of $9.15 and a 200 day moving average price of $10.35. Tecnoglass has a 1-year low of $6.36 and a 1-year high of $12.93.
In other Tecnoglass news, Director Martha L. Byorum sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $9.27, for a total transaction of $46,350.00. Following the sale, the director now owns 110,579 shares of the company’s stock, valued at approximately $1,025,067.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 67.20% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its stake in Tecnoglass by 36.7% in the second quarter. Wells Fargo & Company MN now owns 22,001 shares of the company’s stock valued at $205,000 after buying an additional 5,902 shares during the period. Boston Partners acquired a new stake in Tecnoglass during the second quarter valued at approximately $975,000. Finally, Kennedy Capital Management Inc. increased its stake in Tecnoglass by 113.9% in the second quarter. Kennedy Capital Management Inc. now owns 292,636 shares of the company’s stock valued at $2,727,000 after buying an additional 155,847 shares during the period. 4.90% of the stock is currently owned by institutional investors and hedge funds.
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TGLS has been the topic of several research reports. Zacks Investment Research cut shares of Tecnoglass from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 30th. BidaskClub upgraded shares of Tecnoglass from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st.
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