KBC Group NV Acquires 17,743 Shares of TPI Composites, Inc. (NASDAQ:TPIC)

KBC Group NV boosted its holdings in shares of TPI Composites, Inc. (NASDAQ:TPICFree Report) by 5.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 318,049 shares of the industrial products company’s stock after acquiring an additional 17,743 shares during the quarter. KBC Group NV owned 0.75% of TPI Composites worth $1,317,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TPIC. Covalis Capital LLP bought a new stake in shares of TPI Composites in the third quarter worth $2,163,000. Rock Point Advisors LLC grew its position in shares of TPI Composites by 98.9% in the 3rd quarter. Rock Point Advisors LLC now owns 632,825 shares of the industrial products company’s stock valued at $1,677,000 after buying an additional 314,715 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of TPI Composites in the third quarter valued at about $680,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of TPI Composites during the third quarter worth about $426,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of TPI Composites by 228.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 193,953 shares of the industrial products company’s stock worth $745,000 after acquiring an additional 134,961 shares during the period. 75.24% of the stock is currently owned by institutional investors and hedge funds.

TPI Composites Trading Down 8.5 %

Shares of NASDAQ TPIC opened at $4.76 on Friday. The firm has a market capitalization of $224.86 million, a P/E ratio of -1.03 and a beta of 2.02. The firm’s 50-day moving average price is $3.66 and its 200-day moving average price is $3.21. TPI Composites, Inc. has a 1-year low of $1.63 and a 1-year high of $12.21.

TPI Composites (NASDAQ:TPICGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported ($1.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.59). The company had revenue of $299.06 million during the quarter, compared to analyst estimates of $299.93 million. Equities research analysts forecast that TPI Composites, Inc. will post -2.11 EPS for the current year.

Wall Street Analysts Forecast Growth

TPIC has been the subject of several analyst reports. Piper Sandler restated a “neutral” rating and set a $3.00 price target (down previously from $4.00) on shares of TPI Composites in a report on Friday, February 23rd. Roth Mkm lifted their target price on shares of TPI Composites from $3.30 to $3.75 and gave the stock a “neutral” rating in a research note on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.63.

Check Out Our Latest Stock Report on TPIC

TPI Composites Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding TPIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TPI Composites, Inc. (NASDAQ:TPICFree Report).

Institutional Ownership by Quarter for TPI Composites (NASDAQ:TPIC)

Receive News & Ratings for TPI Composites Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TPI Composites and related companies with MarketBeat.com's FREE daily email newsletter.