K2 Principal Fund L.P. Sells 6,644 Shares of Tecnoglass Inc. $TGLS

Key Points

• K2 Principal Fund L.P. has reduced its stake in Tecnoglass Inc. by 36.8%, selling 6,644 shares, and now holds 11,394 shares valued at $815,000.
• Several institutional investors increased their holdings in Tecnoglass during the first quarter, with JFS Wealth Advisors LLC boosting their stake by 1,350.0%.
• B. Riley has issued a "buy" rating for Tecnoglass with a target price of $100.00, while the stock has been rated as a Moderate Buy by analysts with an average target of $89.00.

K2 Principal Fund L.P. lowered its holdings in shares of Tecnoglass Inc. (NASDAQ:TGLS - Free Report) by 36.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 11,394 shares of the company's stock after selling 6,644 shares during the period. K2 Principal Fund L.P.'s holdings in Tecnoglass were worth $815,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. JFS Wealth Advisors LLC boosted its stake in shares of Tecnoglass by 1,350.0% in the first quarter. JFS Wealth Advisors LLC now owns 435 shares of the company's stock valued at $31,000 after buying an additional 405 shares during the period. New Age Alpha Advisors LLC bought a new stake in shares of Tecnoglass in the first quarter worth $38,000. Entropy Technologies LP bought a new stake in Tecnoglass during the first quarter valued at $200,000. Royal Bank of Canada boosted its position in Tecnoglass by 8.3% during the first quarter. Royal Bank of Canada now owns 3,121 shares of the company's stock valued at $224,000 after acquiring an additional 238 shares during the last quarter. Finally, SkyOak Wealth LLC bought a new position in shares of Tecnoglass during the 1st quarter worth about $244,000. Institutional investors own 37.35% of the company's stock.

Tecnoglass Stock Up 1.5%

NASDAQ:TGLS traded up $1.07 on Wednesday, hitting $71.57. The stock had a trading volume of 51,350 shares, compared to its average volume of 362,514. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.63 and a current ratio of 2.21. The stock has a market cap of $3.36 billion, a P/E ratio of 22.37 and a beta of 1.87. Tecnoglass Inc. has a 1 year low of $58.42 and a 1 year high of $90.34. The firm's fifty day simple moving average is $75.12 and its two-hundred day simple moving average is $75.15.

Tecnoglass (NASDAQ:TGLS - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.07. Tecnoglass had a net margin of 17.82% and a return on equity of 27.71%. The firm's revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 earnings per share. Tecnoglass has set its FY 2025 guidance at EPS. Analysts predict that Tecnoglass Inc. will post 3.53 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, B. Riley initiated coverage on shares of Tecnoglass in a report on Friday, May 16th. They issued a "buy" rating and a $100.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $89.00.

About Tecnoglass

Tecnoglass Inc manufactures, supplies, and installs architectural glass, windows, and associated aluminum and vinyl products for commercial and residential construction markets in Colombia, the United States, Panama, and internationally. The company provides low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.