Geode Capital Management LLC Has $4.58 Million Stock Holdings in TPI Composites, Inc. (NASDAQ:TPIC)

Geode Capital Management LLC lowered its position in shares of TPI Composites, Inc. (NASDAQ:TPIC) by 12.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,005,570 shares of the industrial products company’s stock after selling 138,691 shares during the quarter. Geode Capital Management LLC’s holdings in TPI Composites were worth $4,577,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TPIC. Bank of New York Mellon Corp lifted its position in shares of TPI Composites by 26.9% in the second quarter. Bank of New York Mellon Corp now owns 156,765 shares of the industrial products company’s stock worth $625,000 after purchasing an additional 33,275 shares in the last quarter. Rhumbline Advisers grew its position in TPI Composites by 30.6% in the second quarter. Rhumbline Advisers now owns 76,989 shares of the industrial products company’s stock valued at $307,000 after purchasing an additional 18,045 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in TPI Composites by 78.1% in the 2nd quarter. Los Angeles Capital Management LLC now owns 89,777 shares of the industrial products company’s stock valued at $358,000 after buying an additional 39,356 shares during the last quarter. Monaco Asset Management SAM lifted its position in TPI Composites by 20.0% during the 2nd quarter. Monaco Asset Management SAM now owns 60,000 shares of the industrial products company’s stock worth $239,000 after buying an additional 10,000 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of TPI Composites by 251.1% during the 2nd quarter. Renaissance Technologies LLC now owns 58,686 shares of the industrial products company’s stock worth $234,000 after buying an additional 41,970 shares during the last quarter. 75.24% of the stock is owned by institutional investors.

TPI Composites Stock Up 7.3 %

Shares of NASDAQ TPIC opened at $1.92 on Monday. TPI Composites, Inc. has a twelve month low of $1.10 and a twelve month high of $5.75. The company has a market cap of $91.32 million, a PE ratio of -0.51 and a beta of 1.82. The business’s 50 day moving average price is $2.13 and its two-hundred day moving average price is $3.44.

Analysts Set New Price Targets

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