Geode Capital Management LLC Sells 138,691 Shares of TPI Composites, Inc. (NASDAQ:TPIC)

Geode Capital Management LLC reduced its stake in TPI Composites, Inc. (NASDAQ:TPIC) by 12.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,005,570 shares of the industrial products company’s stock after selling 138,691 shares during the period. Geode Capital Management LLC owned 2.11% of TPI Composites worth $4,577,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in TPI Composites by 26.9% in the second quarter. Bank of New York Mellon Corp now owns 156,765 shares of the industrial products company’s stock valued at $625,000 after buying an additional 33,275 shares during the period. Rhumbline Advisers increased its stake in shares of TPI Composites by 30.6% in the 2nd quarter. Rhumbline Advisers now owns 76,989 shares of the industrial products company’s stock valued at $307,000 after acquiring an additional 18,045 shares during the last quarter. Los Angeles Capital Management LLC raised its position in shares of TPI Composites by 78.1% in the 2nd quarter. Los Angeles Capital Management LLC now owns 89,777 shares of the industrial products company’s stock valued at $358,000 after acquiring an additional 39,356 shares during the period. Monaco Asset Management SAM boosted its stake in TPI Composites by 20.0% during the 2nd quarter. Monaco Asset Management SAM now owns 60,000 shares of the industrial products company’s stock worth $239,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in TPI Composites by 251.1% during the 2nd quarter. Renaissance Technologies LLC now owns 58,686 shares of the industrial products company’s stock worth $234,000 after acquiring an additional 41,970 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on TPIC. Morgan Stanley reiterated an “underweight” rating and issued a $2.00 target price (down from $4.00) on shares of TPI Composites in a report on Friday, November 15th. JPMorgan Chase & Co. restated a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. 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. Finally, Jefferies Financial Group began coverage on TPI Composites in a report on Thursday, October 17th. They issued a “hold” rating and a $5.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.58.

TPI Composites Stock Up 7.3 %

Shares of NASDAQ:TPIC opened at $1.92 on Monday. The firm has a market cap of $91.32 million, a price-to-earnings ratio of -0.51 and a beta of 1.82. TPI Composites, Inc. has a 12 month low of $1.10 and a 12 month high of $5.75. The company’s fifty day simple moving average is $2.13 and its 200 day simple moving average is $3.44.

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.