Erste Asset Management GmbH cut its holdings in TPI Composites, Inc. (NASDAQ:TPIC - Free Report) by 80.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 346,092 shares of the industrial products company's stock after selling 1,402,133 shares during the period. Erste Asset Management GmbH owned 0.73% of TPI Composites worth $659,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Quantinno Capital Management LP purchased a new position in TPI Composites in the 3rd quarter worth approximately $57,000. Intech Investment Management LLC bought a new position in shares of TPI Composites during the 3rd quarter valued at approximately $65,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of TPI Composites during the 3rd quarter valued at approximately $88,000. Cedar Point Capital Partners LLC increased its position in shares of TPI Composites by 100.0% during the 4th quarter. Cedar Point Capital Partners LLC now owns 20,000 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Peoples Bank KS increased its position in shares of TPI Composites by 100.0% during the 4th quarter. Peoples Bank KS now owns 20,000 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 10,000 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.
TPI Composites Trading Down 12.1 %
Shares of TPIC stock traded down $0.15 during mid-day trading on Tuesday, reaching $1.06. The stock had a trading volume of 270,050 shares, compared to its average volume of 1,061,634. The business's fifty day moving average is $1.37 and its 200-day moving average is $2.46. The firm has a market cap of $50.23 million, a price-to-earnings ratio of -0.21 and a beta of 2.07. TPI Composites, Inc. has a 1-year low of $0.96 and a 1-year high of $5.75.
TPI Composites (NASDAQ:TPIC - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.66). The firm had revenue of $346.51 million during the quarter, compared to analyst estimates of $364.83 million. On average, analysts forecast that TPI Composites, Inc. will post -0.9 earnings per share for the current year.
Insider Buying and Selling
In related news, major shareholder Construction Taahhut A.S. Dere bought 80,000 shares of the company's stock in a transaction that occurred on Monday, February 24th. The shares were purchased at an average cost of $1.52 per share, with a total value of $121,600.00. Following the completion of the acquisition, the insider now directly owns 4,397,232 shares in the company, valued at approximately $6,683,792.64. The trade was a 1.85 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased a total of 205,000 shares of company stock valued at $307,050 over the last ninety days. Company insiders own 3.70% of the company's stock.
Analyst Ratings Changes
Several equities analysts have commented on TPIC shares. Jefferies Financial Group downgraded TPI Composites from a "hold" rating to an "underperform" rating and cut their price objective for the company from $2.30 to $0.50 in a research report on Tuesday. JPMorgan Chase & Co. reissued a "neutral" rating on shares of TPI Composites in a research report on Thursday, December 12th. UBS Group decreased their price objective on TPI Composites from $2.40 to $1.60 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Roth Mkm decreased their price target on TPI Composites from $2.75 to $1.50 and set a "neutral" rating for the company in a research note on Friday, February 21st. Finally, StockNews.com upgraded TPI Composites from a "sell" rating to a "hold" rating in a research note on Monday, February 24th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, TPI Composites presently has a consensus rating of "Hold" and a consensus target price of $3.19.
Get Our Latest Stock Analysis on TPIC
TPI Composites Company Profile
(
Free Report)
TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers (OEMs) in the United States, Mexico, Europe, the Middle East, Africa, and India. It also provides composite solutions for the automotive industry; and field service inspection and repair services comprising diagnostic, repair, and maintenance services for wind blades to OEM customers, and wind farm owners and operators.
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