Tecnoglass (NASDAQ:TGLS) Shares Pass Below 50-Day Moving Average of $22.59

Tecnoglass Inc. (NASDAQ:TGLSGet Rating)’s stock price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $22.59 and traded as low as $20.84. Tecnoglass shares last traded at $21.37, with a volume of 70,049 shares traded.

Analyst Upgrades and Downgrades

TGLS has been the topic of a number of recent research reports. StockNews.com raised shares of Tecnoglass from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 10th. B. Riley upped their price target on shares of Tecnoglass from $32.00 to $34.00 in a research note on Friday, August 5th. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $34.00.

Tecnoglass Stock Up 0.5 %

The company has a current ratio of 2.04, a quick ratio of 1.42 and a debt-to-equity ratio of 0.64. The firm has a market cap of $1.02 billion, a P/E ratio of 10.74 and a beta of 1.87. The company’s 50 day simple moving average is $22.59 and its 200-day simple moving average is $22.03.

Tecnoglass (NASDAQ:TGLSGet Rating) last posted its earnings results on Thursday, August 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.12. The business had revenue of $169.12 million for the quarter, compared to analysts’ expectations of $149.81 million. Tecnoglass had a net margin of 16.74% and a return on equity of 39.73%. Research analysts forecast that Tecnoglass Inc. will post 2.57 earnings per share for the current fiscal year.

Tecnoglass Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Thursday, September 29th. This is a boost from Tecnoglass’s previous quarterly dividend of $0.07. Tecnoglass’s dividend payout ratio is 13.07%.

Hedge Funds Weigh In On Tecnoglass

Several institutional investors have recently made changes to their positions in TGLS. Qube Research & Technologies Ltd lifted its stake in shares of Tecnoglass by 100.9% in the 4th quarter. Qube Research & Technologies Ltd now owns 24,223 shares of the company’s stock worth $634,000 after purchasing an additional 12,167 shares during the period. Private Advisor Group LLC bought a new position in shares of Tecnoglass in the 4th quarter worth approximately $210,000. Renaissance Technologies LLC lifted its stake in shares of Tecnoglass by 28.3% in the 4th quarter. Renaissance Technologies LLC now owns 109,600 shares of the company’s stock worth $2,870,000 after purchasing an additional 24,200 shares during the period. Navellier & Associates Inc. increased its holdings in Tecnoglass by 7.9% in the 4th quarter. Navellier & Associates Inc. now owns 19,032 shares of the company’s stock worth $498,000 after acquiring an additional 1,395 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new stake in Tecnoglass in the 4th quarter worth approximately $748,000. Institutional investors own 23.64% of the company’s stock.

Tecnoglass Company Profile

(Get Rating)

Tecnoglass Inc, through its subsidiaries, designs, produces, markets, and installs architectural systems for the commercial and residential construction industries in Colombia, the United States, Panama, and internationally. The company offers low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.

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