Brightline Capital Management LLC Buys 208,000 Shares of TPI Composites, Inc. (NASDAQ:TPIC)

Brightline Capital Management LLC grew its position in TPI Composites, Inc. (NASDAQ:TPIC) by 14.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,658,000 shares of the industrial products company’s stock after purchasing an additional 208,000 shares during the period. TPI Composites comprises approximately 3.2% of Brightline Capital Management LLC’s holdings, making the stock its 14th biggest holding. Brightline Capital Management LLC owned about 3.49% of TPI Composites worth $7,544,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of TPI Composites by 12.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,347 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 3,737 shares in the last quarter. Quantbot Technologies LP increased its position in TPI Composites by 24.9% during the 3rd quarter. Quantbot Technologies LP now owns 28,391 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 5,653 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of TPI Composites by 55.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 16,680 shares of the industrial products company’s stock worth $49,000 after buying an additional 5,930 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its position in TPI Composites by 8.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 115,644 shares of the industrial products company’s stock valued at $461,000 after purchasing an additional 8,550 shares during the last quarter. Finally, Monaco Asset Management SAM boosted its position in TPI Composites by 20.0% during the 2nd quarter. Monaco Asset Management SAM now owns 60,000 shares of the industrial products company’s stock worth $239,000 after buying an additional 10,000 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.

TPI Composites Stock Performance

Shares of TPI Composites stock traded up $0.03 during midday trading on Wednesday, hitting $2.02. The company had a trading volume of 40,434 shares, compared to its average volume of 909,053. TPI Composites, Inc. has a 52-week low of $1.90 and a 52-week high of $5.75. The company has a 50 day moving average of $3.59 and a 200 day moving average of $4.02.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America lowered their target price on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Evercore ISI upgraded TPI Composites to a “strong-buy” rating in a research note on Monday, August 12th. Jefferies Financial Group started coverage on shares of TPI Composites in a report on Thursday, October 17th. They issued a “hold” rating and a $5.00 price target on the stock. Piper Sandler upped their price objective on shares of TPI Composites from $3.50 to $3.70 and gave the company a “neutral” rating in a report on Monday, August 12th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $2.00 price objective (down previously from $4.00) on shares of TPI Composites in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $4.58.

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.