Marshall Wace LLP Raises Holdings in TPI Composites, Inc. (NASDAQ:TPIC)

Marshall Wace LLP grew its position in shares of TPI Composites, Inc. (NASDAQ:TPIC) by 22.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,638 shares of the industrial products company’s stock after purchasing an additional 15,369 shares during the period. Marshall Wace LLP’s holdings in TPI Composites were worth $334,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new position in shares of TPI Composites in the 1st quarter valued at about $147,000. Green Alpha Advisors LLC increased its position in shares of TPI Composites by 2.9% during the first quarter. Green Alpha Advisors LLC now owns 227,627 shares of the industrial products company’s stock worth $662,000 after purchasing an additional 6,351 shares in the last quarter. Perigon Wealth Management LLC acquired a new position in shares of TPI Composites in the 1st quarter valued at $36,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of TPI Composites during the 1st quarter worth about $77,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in TPI Composites in the 1st quarter valued at about $312,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

TPIC has been the subject of a number of recent research reports. Evercore ISI upgraded shares of TPI Composites to a “strong-buy” rating in a report on Monday, August 12th. JPMorgan Chase & Co. lifted their price objective on shares of TPI Composites from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Piper Sandler boosted their price objective on shares of TPI Composites from $3.50 to $3.70 and gave the stock a “neutral” rating in a report on Monday, August 12th. Finally, Bank of America upped their price target on shares of TPI Composites from $5.00 to $6.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, TPI Composites presently has an average rating of “Moderate Buy” and an average target price of $5.09.

TPI Composites Stock Performance

Shares of TPIC stock opened at $4.60 on Friday. TPI Composites, Inc. has a one year low of $1.63 and a one year high of $5.75. The company has a 50 day moving average price of $4.08 and a 200 day moving average price of $3.96. The firm has a market capitalization of $218.73 million, a price-to-earnings ratio of -1.00 and a beta of 1.91.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings data on Thursday, August 8th. The industrial products company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by ($0.54). The firm had revenue of $309.82 million for the quarter, compared to the consensus estimate of $313.76 million. As a group, equities analysts forecast that TPI Composites, Inc. will post -2.85 EPS for the current fiscal year.

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.