Cedar Point Capital Partners LLC Makes New $41,000 Investment in TPI Composites, Inc. (NASDAQ:TPIC)

Cedar Point Capital Partners LLC purchased a new position in shares of TPI Composites, Inc. (NASDAQ:TPIC) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 10,000 shares of the industrial products company’s stock, valued at approximately $41,000.

A number of other large investors have also recently bought and sold shares of the company. Peoples Bank KS raised its stake in shares of TPI Composites by 100.0% during the 4th quarter. Peoples Bank KS now owns 10,000 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 5,000 shares in the last quarter. Pathstone Family Office LLC raised its stake in shares of TPI Composites by 23.9% during the 3rd quarter. Pathstone Family Office LLC now owns 35,641 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 6,883 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of TPI Composites by 12.2% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 94,853 shares of the industrial products company’s stock worth $251,000 after purchasing an additional 10,322 shares in the last quarter. Citizens Financial Group Inc. RI bought a new stake in shares of TPI Composites during the 3rd quarter worth approximately $28,000. Finally, Vaughan David Investments LLC IL bought a new stake in TPI Composites in the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 75.24% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler restated a “neutral” rating and issued a $3.00 price target (down previously from $4.00) on shares of TPI Composites in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $9.22.

TPI Composites Trading Up 16.3 %

TPIC stock traded up $0.39 during trading hours on Friday, hitting $2.78. 1,704,586 shares of the stock were exchanged, compared to its average volume of 892,961. The firm has a market capitalization of $131.97 million, a P/E ratio of -0.67 and a beta of 2.03. The company has a 50-day simple moving average of $2.79 and a two-hundred day simple moving average of $2.79. TPI Composites, Inc. has a 12 month low of $1.63 and a 12 month high of $12.53.

TPI Composites (NASDAQ:TPIC) last posted its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $0.27 earnings per share for the quarter, topping the consensus estimate of ($0.91) by $1.18. The firm had revenue of $296.99 million for the quarter, compared to the consensus estimate of $340.91 million. During the same quarter in the previous year, the business earned ($0.73) EPS. On average, equities research analysts predict that TPI Composites, Inc. will post -1.47 earnings per share for the current 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.