Freedom Investment Management Inc. Acquires 17,700 Shares of TPI Composites, Inc. (NASDAQ:TPIC)

Freedom Investment Management Inc. boosted its holdings in TPI Composites, Inc. (NASDAQ:TPIC) by 94.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,496 shares of the industrial products company’s stock after purchasing an additional 17,700 shares during the quarter. Freedom Investment Management Inc. owned about 0.08% of TPI Composites worth $69,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC increased its stake in shares of TPI Composites by 281.4% in the 3rd quarter. Barclays PLC now owns 60,538 shares of the industrial products company’s stock valued at $275,000 after acquiring an additional 44,666 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of 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 period. JPMorgan Chase & Co. boosted its position in shares of TPI Composites by 433.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 145,666 shares of the industrial products company’s stock worth $663,000 after purchasing an additional 118,365 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of TPI Composites in the 4th quarter valued at about $43,000. Finally, Headlands Technologies LLC increased its position in TPI Composites by 2,435.3% in the 4th quarter. Headlands Technologies LLC now owns 35,951 shares of the industrial products company’s stock valued at $68,000 after buying an additional 34,533 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors.

Insider Activity

In other news, major shareholder Construction Taahhut A.S. Dere purchased 49,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were purchased at an average price of $1.59 per share, with a total value of $77,910.00. Following the transaction, the insider now directly owns 4,229,232 shares of the company’s stock, valued at approximately $6,724,478.88. This represents a 1.17 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 205,000 shares of company stock valued at $307,050 in the last three months. Company insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on TPIC shares. StockNews.com raised TPI Composites from a “sell” rating to a “hold” rating in a research note on Monday, February 24th. Jefferies Financial Group downgraded shares of TPI Composites from a “hold” rating to an “underperform” rating and lowered their price objective for the stock from $2.30 to $0.50 in a report on Tuesday, March 18th. Roth Mkm reduced their price objective on shares of TPI Composites from $2.75 to $1.50 and set a “neutral” rating for the company in a report on Friday, February 21st. Finally, UBS Group lowered their target price on shares of TPI Composites from $2.40 to $1.60 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $3.19.

TPI Composites Trading Up 5.7 %

Shares of TPI Composites stock opened at $0.79 on Wednesday. The firm has a market capitalization of $37.50 million, a P/E ratio of -0.16 and a beta of 2.06. The business’s fifty day simple moving average is $0.97 and its 200 day simple moving average is $1.82. TPI Composites, Inc. has a 12 month low of $0.64 and a 12 month high of $5.75.

TPI Composites (NASDAQ:TPIC) last issued its quarterly earnings results on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.66). The company had revenue of $346.51 million for the quarter, compared to the consensus estimate of $364.83 million. Analysts predict that TPI Composites, Inc. will post -0.9 EPS for the current fiscal 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.