Alpine Global Management LLC Makes New Investment in TPI Composites, Inc. (NASDAQ:TPIC)

Alpine Global Management LLC purchased a new position in TPI Composites, Inc. (NASDAQ:TPIC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 20,029 shares of the industrial products company’s stock, valued at approximately $38,000.

A number of other large investors also recently modified their holdings of TPIC. Wells Fargo & Company MN raised its holdings in shares of TPI Composites by 104.1% in the 4th quarter. Wells Fargo & Company MN now owns 28,035 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 718,573 shares during the period. Jane Street Group LLC raised its holdings in shares of TPI Composites by 228.3% in the 4th quarter. Jane Street Group LLC now owns 222,878 shares of the industrial products company’s stock worth $421,000 after purchasing an additional 154,994 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of TPI Composites by 433.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 145,666 shares of the industrial products company’s stock worth $663,000 after purchasing an additional 118,365 shares during the period. Swedbank AB raised its holdings in shares of TPI Composites by 210.6% in the 4th quarter. Swedbank AB now owns 131,063 shares of the industrial products company’s stock worth $248,000 after purchasing an additional 88,868 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of TPI Composites in the 4th quarter worth about $145,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TPIC. UBS Group cut their price objective on TPI Composites from $2.40 to $1.60 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Wall Street Zen upgraded TPI Composites from a “sell” rating to a “hold” rating in a report on Monday, February 24th. Jefferies Financial Group downgraded TPI Composites from a “hold” rating to an “underperform” rating and dropped their target price for the company from $2.30 to $0.50 in a report on Tuesday, March 18th. Finally, Roth Mkm dropped their target price on TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a report on Friday, February 21st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $3.19.

TPI Composites Price Performance

TPIC stock opened at $1.20 on Friday. TPI Composites, Inc. has a 52-week low of $0.64 and a 52-week high of $5.75. The stock’s 50 day moving average is $0.90 and its two-hundred day moving average is $1.37. The company has a market capitalization of $58.38 million, a PE ratio of -0.24 and a beta of 2.05.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings data on Monday, May 12th. The industrial products company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.51). The business had revenue of $332.45 million during the quarter, compared to the consensus estimate of $310.50 million. As a group, sell-side analysts anticipate that TPI Composites, Inc. will post -0.9 EPS for the current year.

Insider Transactions at TPI Composites

In other news, major shareholder Construction Taahhut A.S. Dere bought 80,000 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was bought at an average price of $1.52 per share, for a total transaction of $121,600.00. Following the transaction, the insider now owns 4,397,232 shares in the company, valued at $6,683,792.64. The trade was a 1.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.70% of the company’s stock.

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.