Shares of Tecnoglass (TGLS) surges 6% on undervalued catalysts which could value the company much higher. Residential growth has outperformed expectations and signals for a long-term bullish trend.
The company also recently completed the delisting of its shares from the Colombia Stock Exchange to save on expenses, time and administrative resources associated with it and further expand its U.S. advancement strategy. It sources more than 90% of its revenues from the United States.
Furthermore, the company’s board of directors declared a quarterly cash dividend of $0.03 per share payable on April 30, 2021. So, we think this is perhaps an ideal time to bet on the stock.
Due to strong growth in residential market, the group has dramatically gained in the past three months. In its fourth quarter ended December 31, 2020, TGLS has reported strong finances.
Furthermore, it is the second largest glass manufacturer in the United States and is classified as the number one architectural glass transformation firm in Latin America. So we believe that the time might be ripe for the stock to be bought, since big returns are to be produced shortly.