Erste Asset Management GmbH Takes $7.85 Million Position in TPI Composites, Inc. (NASDAQ:TPIC)

Erste Asset Management GmbH purchased a new stake in TPI Composites, Inc. (NASDAQ:TPIC - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,748,225 shares of the industrial products company's stock, valued at approximately $7,854,000. Erste Asset Management GmbH owned approximately 3.68% of TPI Composites at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TPIC. Vanguard Group Inc. raised its stake in TPI Composites by 3.3% in the first quarter. Vanguard Group Inc. now owns 2,286,597 shares of the industrial products company's stock valued at $6,654,000 after buying an additional 72,056 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of TPI Composites by 12.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,347 shares of the industrial products company's stock worth $100,000 after purchasing an additional 3,737 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of TPI Composites by 69.0% during the first quarter. Tidal Investments LLC now owns 140,010 shares of the industrial products company's stock worth $407,000 after purchasing an additional 57,156 shares during the last quarter. Swedbank AB purchased a new position in shares of TPI Composites during the first quarter worth about $248,000. Finally, SG Americas Securities LLC purchased a new position in shares of TPI Composites during the second quarter worth about $44,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

TPI Composites Price Performance

NASDAQ:TPIC remained flat at $2.04 during mid-day trading on Monday. 384,692 shares of the company were exchanged, compared to its average volume of 907,411. The stock has a market cap of $97.02 million, a price-to-earnings ratio of -0.54 and a beta of 1.93. TPI Composites, Inc. has a 1 year low of $1.90 and a 1 year high of $5.75. The firm's fifty day moving average price is $3.44 and its 200 day moving average price is $3.98.

Analysts Set New Price Targets

Several equities analysts have issued reports on TPIC shares. Morgan Stanley reaffirmed an "underweight" rating and set a $2.00 price objective (down previously from $4.00) on shares of TPI Composites in a report on Friday, November 15th. Bank of America lowered their price target on TPI Composites from $7.00 to $4.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Piper Sandler raised their price target on TPI Composites from $3.50 to $3.70 and gave the stock a "neutral" rating in a report on Monday, August 12th. Evercore ISI raised TPI Composites to a "strong-buy" rating in a report on Monday, August 12th. Finally, Jefferies Financial Group began coverage on TPI Composites in a report on Thursday, October 17th. They set a "hold" rating and a $5.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $4.58.

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.