Erste Asset Management GmbH Cuts Stake in TPI Composites, Inc. (NASDAQ:TPIC)

Erste Asset Management GmbH cut its stake in TPI Composites, Inc. (NASDAQ:TPIC) by 80.2% during the 4th quarter, HoldingsChannel reports. The firm owned 346,092 shares of the industrial products company’s stock after selling 1,402,133 shares during the quarter. Erste Asset Management GmbH’s holdings in TPI Composites were worth $659,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in TPIC. Quantinno Capital Management LP purchased a new stake in shares of TPI Composites during the third quarter worth about $57,000. Intech Investment Management LLC purchased a new stake in shares of TPI Composites during the third quarter worth about $65,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of TPI Composites during the third quarter worth about $88,000. Cedar Point Capital Partners LLC increased its position in shares of TPI Composites by 100.0% during the fourth quarter. Cedar Point Capital Partners LLC now owns 20,000 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Peoples Bank KS increased its position 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 acquiring an additional 10,000 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TPI Composites

In other news, major shareholder Construction Taahhut A.S. Dere bought 66,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average price of $1.44 per share, with a total value of $95,040.00. Following the completion of the acquisition, the insider now directly owns 4,295,232 shares in the company, valued at approximately $6,185,134.08. This trade represents a 1.56 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders acquired 205,000 shares of company stock worth $307,050. Company insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

TPIC has been the topic of a number of 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 research report on Tuesday, February 25th. Roth Mkm decreased their price target on TPI Composites from $2.75 to $1.50 and set a “neutral” rating for the company in a research note on Friday, February 21st. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of TPI Composites in a research note on Thursday, December 12th. Finally, StockNews.com upgraded TPI Composites from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, TPI Composites presently has a consensus rating of “Hold” and an average price target of $3.83.

TPI Composites Trading Up 10.3 %

Shares of NASDAQ TPIC opened at $1.07 on Friday. The stock has a 50 day simple moving average of $1.38 and a 200-day simple moving average of $2.49. The company has a market cap of $50.94 million, a PE ratio of -0.21 and a beta of 2.07. TPI Composites, Inc. has a 12-month low of $0.96 and a 12-month high of $5.75.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings data 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 analyst estimates of $364.83 million. Sell-side analysts forecast that TPI Composites, Inc. will post -0.9 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.