XTX Topco Ltd Acquires New Shares in TPI Composites, Inc. (NASDAQ:TPIC)

XTX Topco Ltd acquired a new stake in TPI Composites, Inc. (NASDAQ:TPIC) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 76,718 shares of the industrial products company’s stock, valued at approximately $145,000. XTX Topco Ltd owned approximately 0.16% of TPI Composites at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TPIC. Barclays PLC boosted its holdings in 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 purchasing an additional 44,666 shares during the period. JPMorgan Chase & Co. boosted its holdings in TPI Composites by 433.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 145,666 shares of the industrial products company’s stock valued at $663,000 after purchasing an additional 118,365 shares during the period. Peoples Bank KS boosted its holdings in TPI Composites by 100.0% in the 4th quarter. Peoples Bank KS now owns 20,000 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 10,000 shares during the period. Cedar Point Capital Partners LLC boosted its holdings in TPI Composites by 100.0% in the 4th quarter. Cedar Point Capital Partners LLC now owns 20,000 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 10,000 shares during the period. Finally, Sustainable Insight Capital Management LLC bought a new position in TPI Composites in the 4th quarter valued at $80,000. 75.24% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Transactions at TPI Composites

In other TPI Composites news, major shareholder Construction Taahhut A.S. Dere acquired 49,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were purchased at an average cost of $1.59 per share, for a total transaction of $77,910.00. Following the transaction, the insider now owns 4,229,232 shares in the company, valued at $6,724,478.88. This represents a 1.17 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have acquired 205,000 shares of company stock worth $307,050. 3.70% of the stock is currently owned by insiders.

TPI Composites Price Performance

TPIC opened at $0.93 on Tuesday. The stock’s 50 day simple moving average is $0.93 and its 200 day simple moving average is $1.71. TPI Composites, Inc. has a 1 year low of $0.64 and a 1 year high of $5.75. The firm has a market cap of $44.18 million, a price-to-earnings ratio of -0.18 and a beta of 2.06.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings results on Thursday, February 20th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.66). The company had revenue of $346.51 million during the quarter, compared to analyst estimates of $364.83 million. As a group, sell-side analysts anticipate 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.