Los Angeles Capital Management LLC Sells 15,212 Shares of TPI Composites, Inc. (NASDAQ:TPIC)

Los Angeles Capital Management LLC lowered its holdings in shares of TPI Composites, Inc. (NASDAQ:TPIC) by 16.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,565 shares of the industrial products company’s stock after selling 15,212 shares during the quarter. Los Angeles Capital Management LLC owned about 0.16% of TPI Composites worth $339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Sanctuary Advisors LLC bought a new position in shares of TPI Composites during the 2nd quarter valued at $1,421,000. Susquehanna Fundamental Investments LLC raised its holdings in shares of TPI Composites by 8.0% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 115,644 shares of the industrial products company’s stock valued at $461,000 after purchasing an additional 8,550 shares in the last quarter. Marshall Wace LLP grew its stake in TPI Composites by 22.5% in the 2nd quarter. Marshall Wace LLP now owns 83,638 shares of the industrial products company’s stock valued at $334,000 after buying an additional 15,369 shares during the last quarter. Interval Partners LP acquired a new position in TPI Composites in the 2nd quarter valued at $235,000. Finally, DRW Securities LLC acquired a new position in TPI Composites in the 2nd quarter valued at $718,000. Institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TPIC shares. Bank of America lowered their target price on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Evercore ISI upgraded shares of TPI Composites to a “strong-buy” rating in a research report on Monday, August 12th. Piper Sandler lifted their price target on shares of TPI Composites from $3.50 to $3.70 and gave the company a “neutral” rating in a report on Monday, August 12th. Jefferies Financial Group began coverage on shares of TPI Composites in a research note on Thursday, October 17th. They issued a “hold” rating and a $5.00 target price for the company. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $2.00 target price (down from $4.00) on shares of TPI Composites in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.58.

TPI Composites Price Performance

NASDAQ TPIC opened at $2.17 on Monday. The business has a fifty day moving average price of $3.85 and a two-hundred day moving average price of $4.10. TPI Composites, Inc. has a fifty-two week low of $1.90 and a fifty-two week high of $5.75. The stock has a market capitalization of $103.21 million, a PE ratio of -0.58 and a beta of 1.93.

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.