TPI Composites, Inc. (NASDAQ:TPIC) Shares Sold by Millennium Management LLC

Millennium Management LLC decreased its holdings in TPI Composites, Inc. (NASDAQ:TPIC) by 40.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 219,420 shares of the industrial products company’s stock after selling 146,522 shares during the quarter. Millennium Management LLC owned approximately 0.46% of TPI Composites worth $415,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in TPIC. Barclays PLC increased its stake in shares of TPI Composites by 14.9% in the fourth quarter. Barclays PLC now owns 69,542 shares of the industrial products company’s stock valued at $131,000 after purchasing an additional 9,004 shares during the period. Bank of America Corp DE boosted its stake in TPI Composites by 1.0% in the 4th quarter. Bank of America Corp DE now owns 1,103,086 shares of the industrial products company’s stock worth $2,085,000 after purchasing an additional 10,611 shares during the period. Cerity Partners LLC purchased a new stake in TPI Composites in the 4th quarter worth approximately $25,000. Geode Capital Management LLC lifted its position in TPI Composites by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,021,604 shares of the industrial products company’s stock worth $1,931,000 after buying an additional 16,034 shares in the last quarter. Finally, Two Sigma Securities LLC purchased a new stake in TPI Composites in the 4th quarter worth approximately $31,000. 75.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Roth Mkm cut their price target 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. UBS Group dropped their price objective on shares of TPI Composites from $1.60 to $1.40 and set a “neutral” rating on the stock in a report on Thursday, May 29th. Jefferies Financial Group lowered shares of TPI Composites from a “hold” rating to an “underperform” rating and decreased their target price for the company from $2.30 to $0.50 in a research report on Tuesday, March 18th. Finally, Wall Street Zen upgraded shares of TPI Composites from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.16.

TPI Composites Stock Down 4.6%

Shares of TPIC stock opened at $1.24 on Tuesday. The firm has a fifty day moving average of $0.98 and a 200-day moving average of $1.27. TPI Composites, Inc. has a 12-month low of $0.64 and a 12-month high of $5.33. The company has a market capitalization of $60.33 million, a price-to-earnings ratio of -0.24 and a beta of 2.10.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings data on Monday, May 12th. The industrial products company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate 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. On average, equities analysts expect that TPI Composites, Inc. will post -0.9 EPS for the current year.

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.