TPI Composites, Inc. (NASDAQ:TPIC) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. trimmed its position in shares of TPI Composites, Inc. (NASDAQ:TPIC - Free Report) by 46.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 931,606 shares of the industrial products company's stock after selling 798,117 shares during the quarter. Point72 Asset Management L.P. owned about 1.96% of TPI Composites worth $4,239,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in TPI Composites by 12.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,347 shares of the industrial products company's stock valued at $100,000 after acquiring an additional 3,737 shares during the period. Quantbot Technologies LP raised its position in shares of TPI Composites by 24.9% during the third quarter. Quantbot Technologies LP now owns 28,391 shares of the industrial products company's stock valued at $129,000 after buying an additional 5,653 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its position in shares of TPI Composites by 8.0% during the second quarter. Susquehanna Fundamental Investments LLC now owns 115,644 shares of the industrial products company's stock valued at $461,000 after buying an additional 8,550 shares during the last quarter. Monaco Asset Management SAM increased its position in TPI Composites by 20.0% in the second quarter. Monaco Asset Management SAM now owns 60,000 shares of the industrial products company's stock worth $239,000 after purchasing an additional 10,000 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in TPI Composites in the second quarter worth $44,000. 75.24% of the stock is owned by hedge funds and other institutional investors.

TPI Composites Stock Performance

TPI Composites stock traded down $0.10 during trading hours on Monday, reaching $1.48. The stock had a trading volume of 1,507,380 shares, compared to its average volume of 922,728. The business's 50 day moving average price is $3.18 and its 200-day moving average price is $3.89. TPI Composites, Inc. has a 52 week low of $1.48 and a 52 week high of $5.75.

Analyst Ratings Changes

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

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.