Skandinaviska Enskilda Banken AB publ Takes Position in TPI Composites, Inc. (NASDAQ:TPIC)

Posted by Defense World Staff on Feb 25th, 2023

Skandinaviska Enskilda Banken AB publ bought a new position in shares of TPI Composites, Inc. (NASDAQ:TPIC – Get Rating) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,500 shares of the industrial products company’s stock, valued at approximately $51,000.

A number of other institutional investors and hedge funds have also bought and sold shares of TPIC. BlackRock Inc. boosted its holdings in shares of TPI Composites by 3.3% during the first quarter. BlackRock Inc. now owns 4,010,706 shares of the industrial products company’s stock worth $56,390,000 after acquiring an additional 128,862 shares during the period. Credit Suisse AG boosted its stake in TPI Composites by 1.7% in the 2nd quarter. Credit Suisse AG now owns 1,377,093 shares of the industrial products company’s stock valued at $17,214,000 after purchasing an additional 23,572 shares during the period. Deutsche Bank AG grew its holdings in TPI Composites by 86.0% in the 2nd quarter. Deutsche Bank AG now owns 969,580 shares of the industrial products company’s stock valued at $12,120,000 after buying an additional 448,221 shares in the last quarter. Point72 Asset Management L.P. increased its position in TPI Composites by 1,882.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 691,800 shares of the industrial products company’s stock worth $8,648,000 after buying an additional 656,900 shares during the period. Finally, Guinness Asset Management LTD lifted its holdings in shares of TPI Composites by 7.6% during the third quarter. Guinness Asset Management LTD now owns 453,976 shares of the industrial products company’s stock worth $5,121,000 after buying an additional 32,226 shares in the last quarter. Institutional investors and hedge funds own 82.07% of the company’s stock.

TPI Composites Price Performance

TPI Composites stock opened at $13.95 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.44 and a current ratio of 1.41. TPI Composites, Inc. has a 52 week low of $8.46 and a 52 week high of $25.05. The stock has a market capitalization of $588.83 million, a P/E ratio of -4.71 and a beta of 1.79. The stock has a fifty day moving average of $12.31 and a 200-day moving average of $13.00.

Wall Street Analyst Weigh In

TPIC has been the topic of several research reports. Craig Hallum upgraded shares of TPI Composites from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Friday, November 4th. Bank of America upgraded shares of TPI Composites from an “underperform” rating to a “buy” rating and increased their target price for the stock from $9.00 to $14.00 in a research report on Thursday. JPMorgan Chase & Co. dropped their price target on shares of TPI Composites from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday. Morgan Stanley reduced their price target on TPI Composites from $21.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 10th. Finally, Cowen lifted their price objective on TPI Composites from $13.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, February 10th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.75.

TPI Composites Company Profile

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TPI Composites, Inc is a holding company, which engages in the manufacturing of composite wind blades for the wind energy market. It operates through the following segments: United States (US), Asia, Mexico, Europe, the Middle East & Africa (EMEA), and India. The US segment includes the production of wind blades in its Newton, Iowa plant, the manufacturing of precision molding and assembly systems used for the production of wind blades in its Warren, Rhode Island facility, and composite solutions for the transportation industry.