Raymond James & Associates Sells 4,037 Shares of TPI Composites, Inc. (NASDAQ:TPIC)

Raymond James & Associates reduced its stake in shares of TPI Composites, Inc. (NASDAQ:TPICFree Report) by 27.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,450 shares of the industrial products company’s stock after selling 4,037 shares during the period. Raymond James & Associates’ holdings in TPI Composites were worth $43,000 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. Covalis Capital LLP bought a new position in shares of TPI Composites during the third quarter worth about $2,163,000. Rock Point Advisors LLC lifted its position in shares of TPI Composites by 98.9% in the 3rd quarter. Rock Point Advisors LLC now owns 632,825 shares of the industrial products company’s stock worth $1,677,000 after purchasing an additional 314,715 shares during the period. Dark Forest Capital Management LP bought a new stake in shares of TPI Composites in the 3rd quarter valued at $680,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in shares of TPI Composites by 46.5% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 546,791 shares of the industrial products company’s stock worth $1,449,000 after buying an additional 173,466 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in TPI Composites during the third quarter worth $426,000. 75.24% of the stock is owned by institutional investors and hedge funds.

TPI Composites Trading Up 9.3 %

TPIC opened at $3.64 on Friday. The company has a fifty day moving average price of $2.84 and a two-hundred day moving average price of $2.81. TPI Composites, Inc. has a 1-year low of $1.63 and a 1-year high of $12.24. The company has a market cap of $172.79 million, a P/E ratio of -0.87 and a beta of 1.96.

TPI Composites (NASDAQ:TPICGet Free Report) last issued its earnings results on Thursday, February 22nd. The industrial products company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of ($0.91) by $1.18. The firm had revenue of $296.99 million during the quarter, compared to the consensus estimate of $340.91 million. During the same period in the previous year, the firm earned ($0.73) earnings per share. On average, research analysts forecast that TPI Composites, Inc. will post -1.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Piper Sandler reaffirmed a “neutral” rating and set a $3.00 price target (down previously from $4.00) on shares of TPI Composites in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, TPI Composites presently has a consensus rating of “Hold” and a consensus target price of $9.22.

View Our Latest Research Report on TPI Composites

TPI Composites Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for TPI Composites (NASDAQ:TPIC)

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