TPI Composites, Inc. (NASDAQ:TPIC) Shares Bought by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. raised its holdings in TPI Composites, Inc. (NASDAQ:TPIC) by 190.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 126,526 shares of the industrial products company’s stock after acquiring an additional 83,013 shares during the quarter. Harel Insurance Investments & Financial Services Ltd. owned 0.30% of TPI Composites worth $524,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its holdings in shares of TPI Composites by 44.0% in the first quarter. JPMorgan Chase & Co. now owns 298,889 shares of the industrial products company’s stock worth $4,202,000 after buying an additional 91,261 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of TPI Composites by 59.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 19,750 shares of the industrial products company’s stock worth $278,000 after buying an additional 7,394 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of TPI Composites by 65.4% in the first quarter. MetLife Investment Management LLC now owns 19,649 shares of the industrial products company’s stock worth $276,000 after buying an additional 7,766 shares during the period. Rhumbline Advisers boosted its holdings in shares of TPI Composites by 3.3% in the first quarter. Rhumbline Advisers now owns 40,171 shares of the industrial products company’s stock worth $565,000 after buying an additional 1,275 shares during the period. Finally, BlackRock Inc. boosted its holdings in shares of TPI Composites by 3.3% in the first quarter. BlackRock Inc. now owns 4,010,706 shares of the industrial products company’s stock worth $56,390,000 after buying an additional 128,862 shares during the period. 75.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reiterated a “neutral” rating and issued a $3.00 target price (down from $4.00) on shares of TPI Composites in a report on Friday, February 23rd. 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, TPI Composites has a consensus rating of “Hold” and a consensus price target of $9.22.

TPI Composites Price Performance

NASDAQ TPIC opened at $2.61 on Monday. The company has a 50 day simple moving average of $2.83 and a 200-day simple moving average of $2.79. The firm has a market capitalization of $123.30 million, a price-to-earnings ratio of -0.62 and a beta of 2.03. TPI Composites, Inc. has a 52-week low of $1.63 and a 52-week high of $13.68.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings results on Thursday, February 22nd. The industrial products company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.91) by $1.18. The company had revenue of $296.99 million during the quarter, compared to analysts’ expectations of $340.91 million. During the same period last year, the company earned ($0.73) earnings per share. On average, analysts predict that TPI Composites, Inc. will post -1.47 EPS for the current year.

TPI Composites Profile

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.