Charles Schwab Investment Management Inc. Cuts Position in TPI Composites, Inc. $TPIC

Charles Schwab Investment Management Inc. trimmed its position in shares of TPI Composites, Inc. (NASDAQ:TPIC) by 49.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 310,436 shares of the industrial products company’s stock after selling 300,933 shares during the period. Charles Schwab Investment Management Inc. owned about 0.65% of TPI Composites worth $250,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Squarepoint Ops LLC increased its position in shares of TPI Composites by 469.2% in the 4th quarter. Squarepoint Ops LLC now owns 59,763 shares of the industrial products company’s stock valued at $113,000 after purchasing an additional 49,263 shares during the last quarter. Bank of America Corp DE increased its position in shares of 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 valued at $2,085,000 after purchasing an additional 10,611 shares during the last quarter. Jane Street Group LLC increased its position in shares of TPI Composites by 228.3% in the 4th quarter. Jane Street Group LLC now owns 222,878 shares of the industrial products company’s stock valued at $421,000 after purchasing an additional 154,994 shares during the last quarter. Alpine Global Management LLC purchased a new stake in shares of TPI Composites in the 4th quarter valued at approximately $38,000. Finally, Deutsche Bank AG increased its position in shares of TPI Composites by 39.0% in the 4th quarter. Deutsche Bank AG now owns 179,648 shares of the industrial products company’s stock valued at $340,000 after purchasing an additional 50,422 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

TPI Composites Trading Down 48.5%

Shares of TPIC opened at $0.12 on Friday. The firm has a market cap of $5.90 million, a PE ratio of -0.03 and a beta of 1.98. The company’s 50 day simple moving average is $0.57 and its 200-day simple moving average is $0.87. TPI Composites, Inc. has a 12-month low of $0.11 and a 12-month high of $5.15.

TPI Composites (NASDAQ:TPIC) last announced its earnings results on Monday, August 11th. The industrial products company reported ($1.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.87). The firm had revenue of $276.24 million for the quarter, compared to analyst estimates of $365.39 million. As a group, equities research analysts forecast that TPI Composites, Inc. will post -0.9 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. TD Cowen reissued a “hold” rating and issued a $1.00 price objective (down from $2.00) on shares of TPI Composites in a research report on Tuesday, July 8th. UBS Group dropped their price target on shares of TPI Composites from $1.60 to $1.40 and set a “neutral” rating on the stock in a research note on Thursday, May 29th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $1.73.

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.