Barclays PLC Acquires 44,666 Shares of TPI Composites, Inc. (NASDAQ:TPIC)

Barclays PLC raised its stake in shares of TPI Composites, Inc. (NASDAQ:TPIC) by 281.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 60,538 shares of the industrial products company’s stock after purchasing an additional 44,666 shares during the period. Barclays PLC owned 0.13% of TPI Composites worth $275,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TPIC. Quantinno Capital Management LP bought a new position in shares of TPI Composites during the third quarter worth about $57,000. Intech Investment Management LLC bought a new position in TPI Composites during the 3rd quarter worth approximately $65,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in TPI Composites during the 3rd quarter worth approximately $88,000. Quantbot Technologies LP lifted its position in shares of TPI Composites by 24.9% in the 3rd quarter. Quantbot Technologies LP now owns 28,391 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 5,653 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of TPI Composites in the 3rd quarter valued at $155,000. 75.24% of the stock is owned by institutional investors and hedge funds.

TPI Composites Price Performance

Shares of TPI Composites stock opened at $1.56 on Tuesday. The business has a 50-day simple moving average of $1.77 and a 200 day simple moving average of $3.24. The firm has a market capitalization of $74.19 million, a price-to-earnings ratio of -0.42 and a beta of 1.82. TPI Composites, Inc. has a one year low of $1.10 and a one year high of $5.75.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of TPI Composites in a research note on Thursday, October 17th. They set a “hold” rating and a $5.00 target price for the company. Bank of America cut their target price on TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. 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. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of TPI Composites in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, TPI Composites presently has an average 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.