Intech Investment Management LLC Takes $65,000 Position in TPI Composites, Inc. (NASDAQ:TPIC)

Intech Investment Management LLC acquired a new position in shares of TPI Composites, Inc. (NASDAQ:TPIC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,322 shares of the industrial products company’s stock, valued at approximately $65,000.

Other large investors also recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new stake in TPI Composites in the second quarter valued at approximately $1,421,000. King Luther Capital Management Corp acquired a new position in shares of TPI Composites during the second quarter worth approximately $1,365,000. DRW Securities LLC bought a new position in shares of TPI Composites in the 2nd quarter worth $718,000. Vanguard Group Inc. grew its position in TPI Composites by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 2,286,597 shares of the industrial products company’s stock valued at $6,654,000 after purchasing an additional 72,056 shares during the period. Finally, Interval Partners LP bought a new stake in TPI Composites during the 2nd quarter valued at $235,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

TPI Composites Stock Performance

NASDAQ:TPIC opened at $1.58 on Monday. TPI Composites, Inc. has a 52 week low of $1.57 and a 52 week high of $5.75. The firm has a 50-day moving average price of $3.18 and a two-hundred day moving average price of $3.89. The firm has a market cap of $75.15 million, a price-to-earnings ratio of -0.42 and a beta of 1.82.

Wall Street Analyst Weigh In

TPIC has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of TPI Composites in a research note on Thursday, October 17th. They issued a “hold” rating and a $5.00 price objective on the stock. Morgan Stanley reiterated an “underweight” rating and set a $2.00 price target (down previously from $4.00) on shares of TPI Composites in a research note on Friday, November 15th. Evercore ISI raised TPI Composites to a “strong-buy” rating in a research note on Monday, August 12th. Bank of America dropped their target price on TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, Piper Sandler upped their price target on TPI Composites from $3.50 to $3.70 and gave the stock a “neutral” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $4.58.

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.