Erste Asset Management GmbH reduced its stake 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 SEC. The firm 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 approximately 0.73% of TPI Composites worth $659,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of TPIC. Intech Investment Management LLC bought a new position in shares of TPI Composites in the third quarter worth about $65,000. Dynamic Technology Lab Private Ltd bought a new stake in TPI Composites during the 3rd quarter worth approximately $155,000. Quantbot Technologies LP raised its stake in TPI Composites by 24.9% during the 3rd quarter. Quantbot Technologies LP now owns 28,391 shares of the industrial products company's stock worth $129,000 after acquiring an additional 5,653 shares during the period. BNP Paribas Financial Markets lifted its holdings in TPI Composites by 391.9% during the third quarter. BNP Paribas Financial Markets now owns 64,645 shares of the industrial products company's stock valued at $294,000 after purchasing an additional 51,502 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of TPI Composites in the third quarter worth approximately $88,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.
TPI Composites Stock Down 2.4 %
TPI Composites stock traded down $0.03 during midday trading on Wednesday, reaching $1.02. 396,549 shares of the stock traded hands, compared to its average volume of 1,061,441. TPI Composites, Inc. has a 12 month low of $0.96 and a 12 month high of $5.75. The stock's fifty day moving average is $1.35 and its 200-day moving average is $2.43. The stock has a market cap of $48.32 million, a P/E ratio of -0.20 and a beta of 2.07.
TPI Composites (NASDAQ:TPIC - Get Free Report) last posted its earnings results 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 company had revenue of $346.51 million for the quarter, compared to analysts' expectations of $364.83 million. On average, equities analysts predict that TPI Composites, Inc. will post -0.9 EPS for the current fiscal year.
Analysts Set New Price Targets
Several analysts have recently commented on the stock. Jefferies Financial Group downgraded shares of TPI Composites from a "hold" rating to an "underperform" rating and decreased their price objective for the company from $2.30 to $0.50 in a research report on Tuesday. JPMorgan Chase & Co. restated a "neutral" rating on shares of TPI Composites in a research report on Thursday, December 12th. StockNews.com raised TPI Composites from a "sell" rating to a "hold" rating in a research note on Monday, February 24th. UBS Group decreased their target price on TPI Composites from $2.40 to $1.60 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Finally, Roth Mkm dropped 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. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $3.19.
Check Out Our Latest Research Report on TPI Composites
Insiders Place Their Bets
In related news, major shareholder Construction Taahhut A.S. Dere bought 66,000 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was purchased at an average price of $1.44 per share, for a total transaction of $95,040.00. Following the acquisition, the insider now owns 4,295,232 shares in the company, valued at $6,185,134.08. This trade represents a 1.56 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders acquired 205,000 shares of company stock valued at $307,050 in the last three months. Corporate insiders own 3.70% of the company's stock.
TPI Composites Profile
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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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