Andina Acquisition (TGLS) Cut to “Buy” at ValuEngine

Andina Acquisition (NASDAQ:TGLS) was downgraded by equities research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

A number of other equities research analysts also recently issued reports on TGLS. Zacks Investment Research raised shares of Andina Acquisition from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. BidaskClub raised shares of Andina Acquisition from a “sell” rating to a “hold” rating in a research report on Thursday, December 7th.

Shares of Andina Acquisition (TGLS) traded up $1.10 during mid-day trading on Thursday, reaching $9.20. 138,928 shares of the company’s stock were exchanged, compared to its average volume of 47,678. Andina Acquisition has a twelve month low of $5.50 and a twelve month high of $12.34. The company has a quick ratio of 1.74, a current ratio of 2.38 and a debt-to-equity ratio of 1.79. The company has a market cap of $272.60, a P/E ratio of 31.72, a price-to-earnings-growth ratio of 0.69 and a beta of 0.49.

In other news, Director Martha L. Byorum sold 4,000 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $7.06, for a total transaction of $28,240.00. Following the completion of the transaction, the director now directly owns 113,651 shares of the company’s stock, valued at approximately $802,376.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martha L. Byorum sold 5,000 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $7.27, for a total transaction of $36,350.00. Following the transaction, the director now directly owns 95,751 shares of the company’s stock, valued at $696,109.77. The disclosure for this sale can be found here. Insiders sold a total of 36,900 shares of company stock valued at $263,035 over the last ninety days. 2.30% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Malaga Cove Capital LLC grew its position in shares of Andina Acquisition by 23.8% during the 3rd quarter. Malaga Cove Capital LLC now owns 92,905 shares of the company’s stock valued at $654,000 after acquiring an additional 17,881 shares during the period. Kennedy Capital Management Inc. grew its position in shares of Andina Acquisition by 113.9% during the 2nd quarter. Kennedy Capital Management Inc. now owns 292,636 shares of the company’s stock valued at $2,727,000 after acquiring an additional 155,847 shares during the period. Wells Fargo & Company MN grew its position in shares of Andina Acquisition by 36.7% during the 2nd quarter. Wells Fargo & Company MN now owns 22,001 shares of the company’s stock valued at $205,000 after acquiring an additional 5,902 shares during the period. Vanguard Group Inc. grew its position in shares of Andina Acquisition by 24.6% during the 2nd quarter. Vanguard Group Inc. now owns 77,402 shares of the company’s stock valued at $722,000 after acquiring an additional 15,261 shares during the period. Finally, Northern Trust Corp grew its position in shares of Andina Acquisition by 15.6% during the 2nd quarter. Northern Trust Corp now owns 34,006 shares of the company’s stock valued at $317,000 after acquiring an additional 4,588 shares during the period. 2.56% of the stock is owned by hedge funds and other institutional investors.

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About Andina Acquisition

Tecnoglass Inc, through its subsidiaries, manufactures and sells architectural glass and windows for residential and commercial construction industries in North, Central, and South America. The company offers soft coat, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass.

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