Renaissance Technologies LLC Purchases 41,970 Shares of TPI Composites, Inc. (NASDAQ:TPIC)

Renaissance Technologies LLC lifted its position in TPI Composites, Inc. (NASDAQ:TPIC) by 251.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 58,686 shares of the industrial products company’s stock after purchasing an additional 41,970 shares during the quarter. Renaissance Technologies LLC owned 0.12% of TPI Composites worth $234,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TPIC. Perigon Wealth Management LLC acquired a new position in TPI Composites during the 1st quarter worth about $36,000. SG Americas Securities LLC acquired a new position in TPI Composites during the 2nd quarter worth about $44,000. State Board of Administration of Florida Retirement System lifted its position in TPI Composites by 55.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,680 shares of the industrial products company’s stock worth $49,000 after buying an additional 5,930 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in TPI Composites during the 1st quarter worth about $77,000. Finally, Price T Rowe Associates Inc. MD lifted its position 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 worth $100,000 after buying an additional 3,737 shares in the last quarter. Institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Bank of America upped their price target on shares of TPI Composites from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Evercore ISI upgraded shares of TPI Composites to a “strong-buy” rating in a research report on Monday, August 12th. Piper Sandler upped their target price on shares of TPI Composites from $3.50 to $3.70 and gave the company a “neutral” rating in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. upped their target price on shares of TPI Composites from $8.00 to $9.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.09.

TPI Composites Price Performance

NASDAQ TPIC opened at $4.60 on Friday. The business has a 50 day simple moving average of $4.10 and a 200 day simple moving average of $3.98. TPI Composites, Inc. has a 52-week low of $1.63 and a 52-week high of $5.75.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings results on Thursday, August 8th. The industrial products company reported ($1.23) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.54). The firm had revenue of $309.82 million for the quarter, compared to the consensus estimate of $313.76 million. Equities analysts expect that TPI Composites, Inc. will post -2.85 earnings per share for the current fiscal year.

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.