Cedar Point Capital Partners LLC Acquires 10,000 Shares of TPI Composites, Inc. (NASDAQ:TPIC)

Cedar Point Capital Partners LLC boosted its holdings in shares of TPI Composites, Inc. (NASDAQ:TPIC) by 100.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 20,000 shares of the industrial products company’s stock after acquiring an additional 10,000 shares during the quarter. Cedar Point Capital Partners LLC’s holdings in TPI Composites were worth $38,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Peoples Bank KS increased its position in shares of TPI Composites by 100.0% during the fourth quarter. Peoples Bank KS now owns 20,000 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 10,000 shares during the period. Quantinno Capital Management LP purchased a new position in TPI Composites during the 3rd quarter worth $57,000. Intech Investment Management LLC bought a new stake in TPI Composites during the 3rd quarter valued at $65,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of TPI Composites in the 3rd quarter worth $88,000. Finally, Quantbot Technologies LP grew its position in shares of TPI Composites by 24.9% during the 3rd quarter. Quantbot Technologies LP now owns 28,391 shares of the industrial products company’s stock worth $129,000 after buying an additional 5,653 shares in the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. JPMorgan Chase & Co. restated a “neutral” rating on shares of TPI Composites in a report on Thursday, December 12th. Bank of America dropped their price objective on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Jefferies Financial Group began 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 for the company. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $2.00 target price (down previously from $4.00) on shares of TPI Composites in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $4.58.

TPI Composites Trading Up 7.5 %

Shares of NASDAQ TPIC opened at $1.57 on Thursday. The company has a 50 day simple moving average of $1.74 and a two-hundred day simple moving average of $3.21. TPI Composites, Inc. has a 12 month low of $1.10 and a 12 month high of $5.75. The stock has a market cap of $74.67 million, a price-to-earnings ratio of -0.42 and a beta of 1.82.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings data on Thursday, November 7th. The industrial products company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.47). The business had revenue of $380.76 million during the quarter, compared to analyst estimates of $346.50 million. During the same period in the prior year, the firm earned ($1.71) EPS. Analysts forecast that TPI Composites, Inc. will post -3.8 EPS for the current 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.