Erste Asset Management GmbH Invests $7.85 Million in TPI Composites, Inc. (NASDAQ:TPIC)

Erste Asset Management GmbH bought a new position in TPI Composites, Inc. (NASDAQ:TPIC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,748,225 shares of the industrial products company’s stock, valued at approximately $7,854,000. Erste Asset Management GmbH owned approximately 3.68% of TPI Composites at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sanctuary Advisors LLC bought a new position in TPI Composites in the 2nd quarter valued at $1,421,000. King Luther Capital Management Corp acquired a new stake in shares of TPI Composites in the second quarter valued at $1,365,000. Brightline Capital Management LLC raised its holdings in shares of TPI Composites by 14.3% in the third quarter. Brightline Capital Management LLC now owns 1,658,000 shares of the industrial products company’s stock valued at $7,544,000 after buying an additional 208,000 shares during the last quarter. DRW Securities LLC acquired a new position in TPI Composites during the 2nd quarter worth about $718,000. Finally, Swedbank AB bought a new stake in TPI Composites during the 1st quarter worth about $248,000. 75.24% of the stock is owned by institutional investors and hedge funds.

TPI Composites Stock Performance

TPIC opened at $2.04 on Monday. TPI Composites, Inc. has a 52 week low of $1.90 and a 52 week high of $5.75. The company has a fifty day moving average price of $3.44 and a two-hundred day moving average price of $3.98. The firm has a market capitalization of $97.02 million, a PE ratio of -0.54 and a beta of 1.93.

Analyst Ratings Changes

A number of brokerages have weighed in on TPIC. Evercore ISI raised shares of TPI Composites to a “strong-buy” rating in a research note on Monday, August 12th. Morgan Stanley restated an “underweight” rating and issued a $2.00 price objective (down previously from $4.00) on shares of TPI Composites in a research report on Friday, November 15th. Piper Sandler increased their price objective on TPI Composites from $3.50 to $3.70 and gave the company a “neutral” rating in a research report on Monday, August 12th. Bank of America lowered their target price on TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, Jefferies Financial Group assumed coverage on TPI Composites in a research note on Thursday, October 17th. They set a “hold” rating and a $5.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, TPI Composites currently has a consensus rating of “Hold” and an average target price 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.