Centiva Capital LP Acquires Shares of 15,072 TPI Composites, Inc. (NASDAQ:TPIC)

Posted by on Feb 27th, 2023

Centiva Capital LP acquired a new stake in TPI Composites, Inc. (NASDAQ:TPIC – Get Rating) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 15,072 shares of the industrial products company’s stock, valued at approximately $170,000.

Several other institutional investors have also modified their holdings of the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in TPI Composites in the third quarter valued at $51,000. Sigma Planning Corp purchased a new position in shares of TPI Composites in the 3rd quarter valued at about $115,000. ExodusPoint Capital Management LP acquired a new stake in shares of TPI Composites during the 3rd quarter worth about $834,000. UBS Group AG lifted its stake in TPI Composites by 14.9% during the third quarter. UBS Group AG now owns 69,793 shares of the industrial products company’s stock worth $787,000 after purchasing an additional 9,028 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in TPI Composites in the third quarter valued at approximately $210,000. 82.07% of the stock is owned by hedge funds and other institutional investors.

TPI Composites Stock Down 0.9 %

Shares of TPIC stock opened at $13.95 on Monday. The company has a current ratio of 1.41, a quick ratio of 1.39 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $12.31 and its two-hundred day moving average is $12.85. TPI Composites, Inc. has a twelve month low of $8.46 and a twelve month high of $25.05.

Analyst Ratings Changes

A number of research firms have weighed in on TPIC. Craig Hallum raised shares of TPI Composites from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Friday, November 4th. JPMorgan Chase & Co. reduced 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 decreased their price objective on shares of TPI Composites from $21.00 to $17.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 10th. Bank of America upgraded TPI Composites from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $9.00 to $14.00 in a research report on Thursday. Finally, Cowen upped their target price on TPI Composites from $13.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, February 10th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.75.

About TPI Composites

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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.

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Institutional Ownership by Quarter for TPI Composites (NASDAQ:TPIC)

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