TCP International Holdings Ltd (TCPI) Stock Soars Even Though Company is Facing Class Action Suit

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TCP International Holdings Ltd (NYSE:TCPI) shares are up a ton in early morning trading. This comes on the heels of Lundin Law PC announcing an investigation of TCP and possible violations of federal securities laws. Lundin accuses TCP International Holdings of misleading investors and failing to disclose material information regarding their finances.

Lundin Law PC has also intiated a class action lawsuit for individuals who have lost over $100,000 by investing into the company. The stock is up 23.08% or $0.24 after the news, hitting $1.28 per share. About 532,482 shares traded hands or 194.12% up from the average. TCPI has declined 73.06% since April 24, 2015 and is downtrending. It has underperformed by 71.70% the S&P500.

Out of 2 analysts covering TCP International (NYSE:TCPI), 0 rate it “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. $5.75 is the highest target while $2.40 is the lowest. The $3.70 average target is 189.06% above today’s ($1.28) stock price. TCP International was the topic in 3 analyst reports since August 7, 2015 according to StockzIntelligence Inc. Deutsche Bank downgraded the stock on August 7 to “Hold” rating.

The institutional sentiment increased to 0.86 in Q2 2015. Its up 0.23, from 0.63 in 2015Q1. The ratio improved, as 17 funds sold all TCP International Holdings Ltd shares owned while 11 reduced positions. 14 funds bought stakes while 10 increased positions. They now own 3.67 million shares or 6.21% less from 3.91 million shares in 2015Q1.

First Wilshire Securities Management Inc holds 0.72% of its portfolio in TCP International Holdings Ltd for 763,112 shares. Park West Asset Management Llc owns 682,044 shares or 0.27% of their US portfolio. Moreover, Ardsley Advisory Partners has 0.17% invested in the company for 316,174 shares. The Missouri-based Argent Capital Management Llc has invested 0.08% in the stock. Spark Investment Management Llc, a New York-based fund reported 68,400 shares.

TCP International Holdings Ltd. is a global well-known provider of energy efficient light-emitting diode (LED) and compact fluorescent lamp (CFL) lighting technologies. The company has a market cap of $36.37 million. The Firm designs, develops, makes and delivers energy efficient lamps, fixtures and Internet lighting control solutions. It has 9.57 P/E ratio. The Company’s portfolio of advanced LED and CFL lamps and fixtures enables it to address a range of applications required by its retail and commercial and industrial (C&I) customers.

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