TPI Composites, Inc. (NASDAQ:TPIC) Stock Holdings Boosted by Brightline Capital Management LLC

Brightline Capital Management LLC grew its position in TPI Composites, Inc. (NASDAQ:TPIC) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,700,000 shares of the industrial products company’s stock after acquiring an additional 42,000 shares during the quarter. TPI Composites comprises 2.5% of Brightline Capital Management LLC’s holdings, making the stock its 10th largest position. Brightline Capital Management LLC owned 3.57% of TPI Composites worth $3,213,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Cerity Partners LLC purchased a new stake in TPI Composites during the 4th quarter worth approximately $25,000. Cedar Point Capital Partners LLC increased its holdings in shares of TPI Composites by 100.0% in the 4th quarter. Cedar Point Capital Partners LLC now owns 20,000 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 10,000 shares during the period. Peoples Bank KS boosted its stake in shares of TPI Composites by 100.0% during the fourth quarter. Peoples Bank KS now owns 20,000 shares of the industrial products company’s stock worth $38,000 after buying an additional 10,000 shares during the period. Prudential Financial Inc. acquired a new position in shares of TPI Composites in the fourth quarter valued at approximately $43,000. Finally, Wells Fargo & Company MN raised its position in TPI Composites by 104.1% during the 4th quarter. Wells Fargo & Company MN now owns 28,035 shares of the industrial products company’s stock worth $53,000 after buying an additional 718,573 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

TPI Composites Trading Up 9.1 %

TPIC opened at $0.83 on Friday. The stock has a market capitalization of $39.53 million, a P/E ratio of -0.16 and a beta of 2.06. TPI Composites, Inc. has a 12-month low of $0.64 and a 12-month high of $5.75. The stock has a 50-day moving average price of $1.06 and a 200-day moving average price of $2.00.

TPI Composites (NASDAQ:TPIC) last posted its earnings results on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.66). The firm had revenue of $346.51 million during the quarter, compared to analysts’ expectations of $364.83 million. On average, equities research analysts predict that TPI Composites, Inc. will post -0.9 EPS for the current year.

Insider Activity

In other TPI Composites news, major shareholder Construction Taahhut A.S. Dere acquired 49,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were bought at an average price of $1.59 per share, with a total value of $77,910.00. Following the completion of the acquisition, the insider now owns 4,229,232 shares in the company, valued at $6,724,478.88. This represents a 1.17 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 205,000 shares of company stock worth $307,050 over the last three months. 3.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TPIC has been the topic of several analyst reports. UBS Group dropped their target price on TPI Composites from $2.40 to $1.60 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Roth Mkm dropped their price target on shares of TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Jefferies Financial Group downgraded TPI Composites from a “hold” rating to an “underperform” rating and cut their price objective for the company from $2.30 to $0.50 in a research report on Tuesday, March 18th. Finally, StockNews.com upgraded TPI Composites from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has issued 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 price target of $3.19.

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.