Quantinno Capital Management LP Takes Position in TPI Composites, Inc. (NASDAQ:TPIC)

Quantinno Capital Management LP purchased a new stake in TPI Composites, Inc. (NASDAQ:TPIC) in the third quarter, HoldingsChannel reports. The firm purchased 12,570 shares of the industrial products company’s stock, valued at approximately $57,000.

Several other institutional investors have also recently bought and sold shares of TPIC. Erste Asset Management GmbH acquired a new stake in TPI Composites in the third quarter worth about $7,854,000. Brightline Capital Management LLC grew its position in shares of TPI Composites by 14.3% during the 3rd quarter. Brightline Capital Management LLC now owns 1,658,000 shares of the industrial products company’s stock worth $7,544,000 after buying an additional 208,000 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of TPI Composites during the second quarter worth approximately $1,421,000. King Luther Capital Management Corp acquired a new position in TPI Composites in the second quarter valued at approximately $1,365,000. Finally, DRW Securities LLC bought a new position in TPI Composites in the second quarter valued at approximately $718,000. Institutional investors own 75.24% of the company’s stock.

TPI Composites Price Performance

NASDAQ TPIC opened at $1.20 on Wednesday. The stock’s 50-day moving average is $2.74 and its 200-day moving average is $3.72. TPI Composites, Inc. has a one year low of $1.19 and a one year high of $5.75. The firm has a market cap of $57.08 million, a P/E ratio of -0.32 and a beta of 1.82.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. reissued a “neutral” rating on shares of TPI Composites in a research note on Thursday, December 12th. Morgan Stanley restated an “underweight” rating and set a $2.00 target price (down previously from $4.00) on shares of TPI Composites in a report on Friday, November 15th. Bank of America lowered their price target 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 initiated coverage on shares of TPI Composites in a research note on Thursday, October 17th. They set a “hold” rating and a $5.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, TPI Composites presently has an average rating of “Hold” and a consensus price target of $4.58.

About TPI Composites

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.