Squarepoint Ops LLC Has $113,000 Position in TPI Composites, Inc. (NASDAQ:TPIC)

Squarepoint Ops LLC boosted its position in TPI Composites, Inc. (NASDAQ:TPIC) by 469.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,763 shares of the industrial products company’s stock after buying an additional 49,263 shares during the quarter. Squarepoint Ops LLC owned approximately 0.13% of TPI Composites worth $113,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of TPIC. Sanctuary Advisors LLC boosted its position in TPI Composites by 8.2% during the fourth quarter. Sanctuary Advisors LLC now owns 290,098 shares of the industrial products company’s stock valued at $548,000 after purchasing an additional 22,005 shares during the last quarter. Bank of America Corp DE increased its holdings in TPI Composites by 1.0% during the fourth quarter. Bank of America Corp DE now owns 1,103,086 shares of the industrial products company’s stock worth $2,085,000 after buying an additional 10,611 shares during the last quarter. Jane Street Group LLC raised its position in TPI Composites by 228.3% during the fourth quarter. Jane Street Group LLC now owns 222,878 shares of the industrial products company’s stock worth $421,000 after acquiring an additional 154,994 shares in the last quarter. Geode Capital Management LLC raised its position in TPI Composites by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 1,021,604 shares of the industrial products company’s stock worth $1,931,000 after acquiring an additional 16,034 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new stake in TPI Composites in the fourth quarter valued at $43,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

TPI Composites Stock Performance

Shares of TPI Composites stock opened at $1.24 on Tuesday. The stock has a market capitalization of $60.33 million, a P/E ratio of -0.24 and a beta of 2.10. TPI Composites, Inc. has a 52-week low of $0.64 and a 52-week high of $5.33. The stock’s 50-day simple moving average is $0.98 and its 200 day simple moving average is $1.27.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings data on Monday, May 12th. The industrial products company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.51). The firm had revenue of $332.45 million for the quarter, compared to the consensus estimate of $310.50 million. Equities research analysts forecast that TPI Composites, Inc. will post -0.9 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on TPIC shares. Wall Street Zen upgraded TPI Composites from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. UBS Group dropped their price target on TPI Composites from $1.60 to $1.40 and set a “neutral” rating on the stock in a research note on Thursday, May 29th. Jefferies Financial Group cut shares of TPI Composites from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $2.30 to $0.50 in a research report on Tuesday, March 18th. Finally, Roth Mkm decreased their price objective on shares of TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $3.16.

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.