TPI Composites, Inc. (NASDAQ:TPIC) is Brightline Capital Management LLC’s 10th Largest Position

Brightline Capital Management LLC boosted its position in shares of TPI Composites, Inc. (NASDAQ:TPIC) by 2.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,700,000 shares of the industrial products company’s stock after acquiring an additional 42,000 shares during the quarter. TPI Composites makes up about 2.5% of Brightline Capital Management LLC’s portfolio, making the stock its 10th biggest position. Brightline Capital Management LLC’s holdings in TPI Composites were worth $3,213,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Cedar Point Capital Partners LLC grew its stake in TPI Composites by 100.0% during the 4th quarter. Cedar Point Capital Partners LLC now owns 20,000 shares of the industrial products company’s stock worth $38,000 after buying an additional 10,000 shares during the last quarter. Peoples Bank KS raised 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 worth $38,000 after purchasing an additional 10,000 shares during the period. Quantinno Capital Management LP purchased a new stake in TPI Composites in the 3rd quarter worth $57,000. Cerity Partners LLC acquired a new position in TPI Composites during the fourth quarter worth $25,000. Finally, Geode Capital Management LLC lifted its holdings in TPI Composites by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 1,021,604 shares of the industrial products company’s stock valued at $1,931,000 after purchasing an additional 16,034 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors.

TPI Composites Trading Up 9.1 %

TPI Composites stock opened at $0.83 on Friday. The company has a 50-day moving average price of $1.06 and a 200 day moving average price of $2.00. TPI Composites, Inc. has a 12-month low of $0.64 and a 12-month high of $5.75. The stock has a market cap of $39.53 million, a P/E ratio of -0.16 and a beta of 2.06.

TPI Composites (NASDAQ:TPIC) last released its quarterly earnings data on Thursday, February 20th. The industrial products company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.66). The company had revenue of $346.51 million during the quarter, compared to analysts’ expectations of $364.83 million. As a group, analysts forecast that TPI Composites, Inc. will post -0.9 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Construction Taahhut A.S. Dere bought 49,000 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was purchased at an average price of $1.59 per share, for a total transaction of $77,910.00. Following the completion of the purchase, the insider now owns 4,229,232 shares in the company, valued at approximately $6,724,478.88. This trade represents a 1.17 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have bought 205,000 shares of company stock valued at $307,050. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TPIC. StockNews.com upgraded shares of TPI Composites from a “sell” rating to a “hold” rating in a research report on Monday, February 24th. UBS Group lowered their price target on TPI Composites from $2.40 to $1.60 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Jefferies Financial Group downgraded TPI Composites from a “hold” rating to an “underperform” rating and reduced their price objective for the company from $2.30 to $0.50 in a research note on Tuesday, March 18th. Finally, Roth Mkm lowered their target price on shares of TPI Composites from $2.75 to $1.50 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Two 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $3.19.

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.