Healthcare of Ontario Pension Plan Trust Fund Has $36,000 Position in TPI Composites, Inc. (NASDAQ:TPIC)

Healthcare of Ontario Pension Plan Trust Fund cut its stake in shares of TPI Composites, Inc. (NASDAQ:TPIC) by 68.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,318 shares of the industrial products company’s stock after selling 27,167 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in TPI Composites were worth $36,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oaktree Capital Management LP boosted its holdings in shares of TPI Composites by 556.5% in the 4th quarter. Oaktree Capital Management LP now owns 4,600,642 shares of the industrial products company’s stock worth $19,047,000 after acquiring an additional 3,899,903 shares in the last quarter. Vanguard Group Inc. boosted its stake in TPI Composites by 3.3% in the first quarter. Vanguard Group Inc. now owns 2,286,597 shares of the industrial products company’s stock worth $6,654,000 after purchasing an additional 72,056 shares in the last quarter. Clean Energy Transition LLP bought a new stake in shares of TPI Composites during the fourth quarter worth $1,620,000. KBC Group NV increased its stake in shares of TPI Composites by 5.9% in the fourth quarter. KBC Group NV now owns 318,049 shares of the industrial products company’s stock valued at $1,317,000 after buying an additional 17,743 shares in the last quarter. Finally, Green Alpha Advisors LLC raised its holdings in shares of TPI Composites by 2.9% in the first quarter. Green Alpha Advisors LLC now owns 227,627 shares of the industrial products company’s stock valued at $662,000 after buying an additional 6,351 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on TPIC shares. JPMorgan Chase & Co. increased their price objective on shares of TPI Composites from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Roth Mkm upped their target price on shares of TPI Composites from $3.30 to $3.75 and gave the stock a “neutral” rating in a research report on Monday, May 6th. Piper Sandler raised their price target on shares of TPI Composites from $3.00 to $3.50 and gave the company a “neutral” rating in a report on Monday, July 22nd. Finally, Bank of America boosted their price objective on shares of TPI Composites from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $6.61.

TPI Composites Stock Performance

Shares of TPIC stock opened at $4.78 on Friday. The firm’s 50 day moving average price is $4.51 and its two-hundred day moving average price is $3.52. TPI Composites, Inc. has a 52-week low of $1.63 and a 52-week high of $8.43. The stock has a market cap of $225.81 million, a PE ratio of -1.04 and a beta of 1.95.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.59). The firm had revenue of $299.06 million during the quarter, compared to analyst estimates of $299.93 million. As a group, sell-side analysts predict that TPI Composites, Inc. will post -2.1 earnings per share for the current fiscal year.

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.