Brightline Capital Management LLC Raises Position in TPI Composites, Inc. (NASDAQ:TPIC)

Brightline Capital Management LLC grew its position in shares of TPI Composites, Inc. (NASDAQ:TPIC) by 14.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,658,000 shares of the industrial products company’s stock after buying an additional 208,000 shares during the quarter. TPI Composites accounts for 3.2% of Brightline Capital Management LLC’s portfolio, making the stock its 14th largest position. Brightline Capital Management LLC’s holdings in TPI Composites were worth $7,544,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of TPI Composites in the 2nd quarter worth $44,000. Intech Investment Management LLC purchased a new stake in shares of TPI Composites during the third quarter valued at $65,000. State Board of Administration of Florida Retirement System increased its holdings in TPI Composites by 55.2% in the 1st 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. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in TPI Composites in the 3rd quarter worth about $88,000. Finally, Quantbot Technologies LP lifted its stake 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 valued at $129,000 after acquiring an additional 5,653 shares during the period. Institutional investors own 75.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TPIC. Bank of America decreased their price objective on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Jefferies Financial Group started coverage on TPI Composites in a report on Thursday, October 17th. They set a “hold” rating and a $5.00 price target on the stock. Evercore ISI raised TPI Composites to a “strong-buy” rating in a report on Monday, August 12th. Piper Sandler increased their target price on 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 restated an “underweight” rating and set a $2.00 price target (down from $4.00) on shares of TPI Composites in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.58.

TPI Composites Stock Up 1.5 %

Shares of TPIC stock traded up $0.03 during trading hours on Wednesday, reaching $2.02. 40,434 shares of the company traded hands, compared to its average volume of 909,053. The firm has a 50-day moving average price of $3.59 and a 200 day moving average price of $4.02. TPI Composites, Inc. has a 12-month low of $1.90 and a 12-month high of $5.75.

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.