Erste Asset Management GmbH Decreases Holdings in TPI Composites, Inc. (NASDAQ:TPIC)

Erste Asset Management GmbH trimmed its stake in TPI Composites, Inc. (NASDAQ:TPIC - Free Report) by 80.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 about 0.73% of TPI Composites worth $659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Brightline Capital Management LLC lifted its position in shares of TPI Composites by 14.3% in the 3rd quarter. Brightline Capital Management LLC now owns 1,658,000 shares of the industrial products company's stock worth $7,544,000 after purchasing an additional 208,000 shares during the period. Sanctuary Advisors LLC lifted its position in shares of TPI Composites by 8.2% in the 4th quarter. Sanctuary Advisors LLC now owns 290,098 shares of the industrial products company's stock worth $548,000 after purchasing an additional 22,005 shares during the period. JPMorgan Chase & Co. lifted its position in shares of TPI Composites by 433.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 145,666 shares of the industrial products company's stock worth $663,000 after purchasing an additional 118,365 shares during the period. Swedbank AB lifted its position in shares of TPI Composites by 210.6% in the 4th quarter. Swedbank AB now owns 131,063 shares of the industrial products company's stock worth $248,000 after purchasing an additional 88,868 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of TPI Composites by 391.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 64,645 shares of the industrial products company's stock worth $294,000 after purchasing an additional 51,502 shares during the period. 75.24% of the stock is owned by hedge funds and other institutional investors.

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TPI Composites Stock Down 13.3 %

Shares of NASDAQ:TPIC traded down $0.16 during midday trading on Tuesday, reaching $1.04. The company's stock had a trading volume of 593,291 shares, compared to its average volume of 1,064,118. The firm has a market capitalization of $49.51 million, a PE ratio of -0.21 and a beta of 2.07. TPI Composites, Inc. has a twelve month low of $0.96 and a twelve month high of $5.75. The stock has a fifty day moving average of $1.35 and a 200 day moving average of $2.43.

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 analysts' consensus estimates of ($0.15) by ($0.66). The firm had revenue of $346.51 million for the quarter, compared to analysts' expectations of $364.83 million. Sell-side analysts anticipate that TPI Composites, Inc. will post -0.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TPIC has been the subject of several research reports. Roth Mkm lowered their price target on shares of TPI Composites from $2.75 to $1.50 and set a "neutral" rating for the company in a research report on Friday, February 21st. StockNews.com upgraded shares of TPI Composites from a "sell" rating to a "hold" rating in a research note on Monday, February 24th. Jefferies Financial Group lowered shares of TPI Composites from a "hold" rating to an "underperform" rating and reduced their price objective for the stock from $2.30 to $0.50 in a research note on Tuesday. UBS Group reduced their price objective on shares of TPI Composites from $2.40 to $1.60 and set a "neutral" rating for the company in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating on shares of TPI Composites in a research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, TPI Composites currently has an average rating of "Hold" and an average target price of $3.19.

Insider Buying and Selling

In other news, major shareholder Construction Taahhut A.S. Dere purchased 66,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average cost of $1.44 per share, with a total value of $95,040.00. Following the completion of the acquisition, the insider now owns 4,295,232 shares of the company's stock, valued at approximately $6,185,134.08. This represents a 1.56 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have bought 205,000 shares of company stock valued at $307,050. Corporate insiders own 3.70% of the company's stock.

About TPI Composites

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.