Erste Asset Management GmbH Cuts Stock Position in TPI Composites, Inc. (NASDAQ:TPIC)

Erste Asset Management GmbH cut its holdings in TPI Composites, Inc. (NASDAQ:TPIC - Free Report) by 80.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 346,092 shares of the industrial products company's stock after selling 1,402,133 shares during the quarter. Erste Asset Management GmbH owned 0.73% of TPI Composites worth $659,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Brightline Capital Management LLC lifted its position in TPI Composites by 14.3% in the third quarter. Brightline Capital Management LLC now owns 1,658,000 shares of the industrial products company's stock worth $7,544,000 after buying an additional 208,000 shares during the last quarter. Sanctuary Advisors LLC lifted its position in TPI Composites by 8.2% in the fourth quarter. Sanctuary Advisors LLC now owns 290,098 shares of the industrial products company's stock worth $548,000 after buying an additional 22,005 shares during the last quarter. JPMorgan Chase & Co. lifted its position in TPI Composites by 433.6% in the third quarter. JPMorgan Chase & Co. now owns 145,666 shares of the industrial products company's stock worth $663,000 after buying an additional 118,365 shares during the last quarter. Swedbank AB lifted its position in TPI Composites by 210.6% in the fourth quarter. Swedbank AB now owns 131,063 shares of the industrial products company's stock worth $248,000 after buying an additional 88,868 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in TPI Composites by 391.9% in the third quarter. BNP Paribas Financial Markets now owns 64,645 shares of the industrial products company's stock worth $294,000 after buying an additional 51,502 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at TPI Composites

In other news, major shareholder Construction Taahhut A.S. Dere acquired 80,000 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was purchased at an average cost of $1.52 per share, for a total transaction of $121,600.00. Following the completion of the acquisition, the insider now directly owns 4,397,232 shares of the company's stock, valued at $6,683,792.64. The trade was a 1.85 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders bought 205,000 shares of company stock worth $307,050 over the last three months. 3.70% of the stock is owned by corporate insiders.

TPI Composites Price Performance

Shares of NASDAQ:TPIC traded up $0.11 on Monday, hitting $1.18. 411,698 shares of the company's stock were exchanged, compared to its average volume of 1,063,493. The business's 50 day simple moving average is $1.38 and its two-hundred day simple moving average is $2.48. The stock has a market capitalization of $55.94 million, a price-to-earnings ratio of -0.23 and a beta of 2.07. TPI Composites, Inc. has a 12 month low of $0.96 and a 12 month high of $5.75.

TPI Composites (NASDAQ:TPIC - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.66). The company had revenue of $346.51 million during the quarter, compared to analysts' expectations of $364.83 million. Equities analysts forecast that TPI Composites, Inc. will post -0.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TPIC. StockNews.com upgraded TPI Composites from a "sell" rating to a "hold" rating in a research report on Monday, February 24th. UBS Group lowered their price target on TPI Composites from $2.40 to $1.60 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. JPMorgan Chase & Co. restated a "neutral" rating on shares of TPI Composites in a research report on Thursday, December 12th. Finally, Roth Mkm decreased their target price on TPI Composites from $2.75 to $1.50 and set a "neutral" rating for the company in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $3.83.

TPI Composites Company Profile

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.