Intech Investment Management LLC Acquires New Position in TPI Composites, Inc. (NASDAQ:TPIC)

Intech Investment Management LLC bought a new position in shares of TPI Composites, Inc. (NASDAQ:TPIC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,322 shares of the industrial products company’s stock, valued at approximately $65,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in TPI Composites by 12.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,347 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 3,737 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its holdings in TPI Composites by 8.0% in the 2nd 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 raised its holdings in TPI Composites by 20.0% in the 2nd quarter. Monaco Asset Management SAM now owns 60,000 shares of the industrial products company’s stock valued at $239,000 after buying an additional 10,000 shares during the last quarter. SG Americas Securities LLC acquired a new stake in TPI Composites during the 2nd quarter worth approximately $44,000. Finally, Marshall Wace LLP grew its holdings in TPI Composites by 22.5% during the 2nd quarter. Marshall Wace LLP now owns 83,638 shares of the industrial products company’s stock worth $334,000 after acquiring an additional 15,369 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

TPI Composites Trading Down 4.5 %

TPIC stock opened at $1.58 on Monday. TPI Composites, Inc. has a 1-year low of $1.57 and a 1-year high of $5.75. The stock has a 50-day moving average price of $3.18 and a 200-day moving average price of $3.89. The firm has a market cap of $75.15 million, a PE ratio of -0.42 and a beta of 1.82.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TPIC shares. Evercore ISI upgraded shares of TPI Composites to a “strong-buy” rating in a report on Monday, August 12th. Piper Sandler lifted their target price on TPI Composites from $3.50 to $3.70 and gave the stock a “neutral” rating in a report on Monday, August 12th. Morgan Stanley reissued an “underweight” rating and issued a $2.00 price target (down previously from $4.00) on shares of TPI Composites in a research note on Friday, November 15th. Jefferies Financial Group initiated coverage on TPI Composites in a research report on Thursday, October 17th. They set a “hold” rating and a $5.00 price objective for the company. Finally, Bank of America reduced their target price on TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $4.58.

TPI Composites 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.