Erste Asset Management GmbH Cuts Holdings in TPI Composites, Inc. (NASDAQ:TPIC)

Erste Asset Management GmbH trimmed its holdings in shares of TPI Composites, Inc. (NASDAQ:TPIC) by 80.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 346,092 shares of the industrial products company’s stock after selling 1,402,133 shares during the period. Erste Asset Management GmbH owned about 0.73% of TPI Composites worth $659,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sanctuary Advisors LLC increased its stake in TPI Composites by 8.2% in the 4th quarter. Sanctuary Advisors LLC now owns 290,098 shares of the industrial products company’s stock valued at $548,000 after purchasing an additional 22,005 shares in the last quarter. Swedbank AB increased its stake in TPI Composites by 210.6% in the 4th quarter. Swedbank AB now owns 131,063 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 88,868 shares in the last quarter. Sustainable Insight Capital Management LLC purchased a new position in TPI Composites in the 4th quarter valued at approximately $80,000. Cedar Point Capital Partners LLC increased its stake in TPI Composites by 100.0% in the 4th quarter. Cedar Point Capital Partners LLC now owns 20,000 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Peoples Bank KS increased its stake in TPI Composites by 100.0% in the 4th quarter. Peoples Bank KS now owns 20,000 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 10,000 shares in the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

TPI Composites Trading Up 10.3 %

Shares of TPIC opened at $1.07 on Friday. The firm has a market capitalization of $50.94 million, a P/E ratio of -0.21 and a beta of 2.07. The stock’s fifty day simple moving average is $1.38 and its 200 day simple moving average is $2.49. TPI Composites, Inc. has a twelve month low of $0.96 and a twelve month high of $5.75.

TPI Composites (NASDAQ:TPIC) last issued its earnings results on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.66). The company had revenue of $346.51 million during the quarter, compared to analyst estimates of $364.83 million. Sell-side analysts predict that TPI Composites, Inc. will post -0.9 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Construction Taahhut A.S. Dere acquired 66,000 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were bought at an average cost of $1.44 per share, with a total value of $95,040.00. Following the completion of the transaction, the insider now directly owns 4,295,232 shares of the company’s stock, valued at $6,185,134.08. This trade represents a 1.56 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have bought 205,000 shares of company stock valued at $307,050. 3.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. StockNews.com raised TPI Composites from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. UBS Group lowered their target price on TPI Composites from $2.40 to $1.60 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Roth Mkm lowered their target price on TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of TPI Composites in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $3.83.

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.