Sanctuary Advisors LLC Lowers Stock Position in TPI Composites, Inc. (NASDAQ:TPIC)

Sanctuary Advisors LLC lessened its stake in shares of TPI Composites, Inc. (NASDAQ:TPIC) by 24.7% during the 3rd quarter, Holdings Channel reports. The fund owned 268,093 shares of the industrial products company’s stock after selling 88,005 shares during the period. Sanctuary Advisors LLC’s holdings in TPI Composites were worth $1,220,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Erste Asset Management GmbH bought a new position in shares of TPI Composites during the 3rd quarter worth approximately $7,854,000. DRW Securities LLC acquired a new position in shares of TPI Composites during the second quarter worth $718,000. Monaco Asset Management SAM lifted its holdings in shares of 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 valued at $239,000 after purchasing an additional 10,000 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of TPI Composites by 391.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 64,645 shares of the industrial products company’s stock worth $294,000 after purchasing an additional 51,502 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in TPI Composites during the 3rd quarter worth $155,000. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TPIC has been the subject of a number of research analyst reports. Jefferies Financial Group began coverage on TPI Composites in a research note on Thursday, October 17th. They issued a “hold” rating and a $5.00 price target for the company. Bank of America decreased their price objective on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Morgan Stanley restated 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. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of TPI Composites in a research note on Thursday, December 12th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $4.58.

TPI Composites Trading Up 96.7 %

Shares of NASDAQ:TPIC opened at $2.40 on Friday. 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 $114.15 million, a PE ratio of -0.64 and a beta of 1.82. The company’s 50 day moving average is $2.57 and its 200 day moving average is $3.65.

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.