TPI Composites, Inc. (NASDAQ:TPIC) Shares Acquired by Barclays PLC

Barclays PLC increased its holdings in TPI Composites, Inc. (NASDAQ:TPIC) by 281.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,538 shares of the industrial products company’s stock after buying an additional 44,666 shares during the quarter. Barclays PLC’s holdings in TPI Composites were worth $275,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Erste Asset Management GmbH bought a new position in TPI Composites in the 3rd quarter worth approximately $7,854,000. Brightline Capital Management LLC grew its holdings in TPI Composites by 14.3% in the 3rd quarter. Brightline Capital Management LLC now owns 1,658,000 shares of the industrial products company’s stock worth $7,544,000 after buying an additional 208,000 shares in the last quarter. Sanctuary Advisors LLC bought a new position in TPI Composites in the 2nd quarter worth approximately $1,421,000. King Luther Capital Management Corp bought a new position in TPI Composites in the 2nd quarter worth approximately $1,365,000. Finally, DRW Securities LLC bought a new position in TPI Composites during the 2nd quarter valued at $718,000. 75.24% of the stock is owned by institutional investors.

TPI Composites Price Performance

NASDAQ TPIC opened at $1.92 on Monday. TPI Composites, Inc. has a fifty-two week low of $1.10 and a fifty-two week high of $5.75. The stock’s 50-day moving average is $2.13 and its two-hundred day moving average is $3.44. The firm has a market cap of $91.32 million, a P/E ratio of -0.51 and a beta of 1.82.

Analyst Ratings Changes

A number of equities analysts have issued reports on TPIC shares. Jefferies Financial Group started coverage on TPI Composites in a research note on Thursday, October 17th. They set a “hold” rating and a $5.00 price target for the company. Bank of America reduced their target price on TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of TPI Composites in a report on Thursday, December 12th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $2.00 price objective (down from $4.00) on shares of TPI Composites in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.58.

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.