Cedar Point Capital Partners LLC Buys Shares of 10,000 TPI Composites, Inc. (NASDAQ:TPIC)

Cedar Point Capital Partners LLC bought a new stake in TPI Composites, Inc. (NASDAQ:TPIC) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 10,000 shares of the industrial products company’s stock, valued at approximately $41,000.

Several other hedge funds have also recently made changes to their positions in TPIC. 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 valued at $41,000 after purchasing an additional 5,000 shares during the period. Citizens Financial Group Inc. RI bought a new stake in shares of TPI Composites during the 3rd quarter valued at $28,000. Vaughan David Investments LLC IL bought a new stake in shares of TPI Composites during the 3rd quarter valued at $31,000. First Affirmative Financial Network bought a new stake in shares of TPI Composites during the 4th quarter valued at $52,000. Finally, Sustainable Insight Capital Management LLC bought a new stake in shares of TPI Composites during the 3rd quarter valued at $56,000. 75.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reiterated a “neutral” rating and set a $3.00 price objective (down from $4.00) on shares of TPI Composites in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.22.

TPI Composites Trading Up 16.3 %

Shares of TPIC traded up $0.39 during midday trading on Friday, reaching $2.78. The stock had a trading volume of 1,704,586 shares, compared to its average volume of 892,961. The company has a market capitalization of $131.97 million, a price-to-earnings ratio of -0.67 and a beta of 2.03. TPI Composites, Inc. has a 12-month low of $1.63 and a 12-month high of $12.53. The company’s 50-day moving average is $2.79 and its 200 day moving average is $2.79.

TPI Composites (NASDAQ:TPIC) last issued its earnings results on Thursday, February 22nd. The industrial products company reported $0.27 earnings per share for the quarter, beating the consensus estimate of ($0.91) by $1.18. The company had revenue of $296.99 million for the quarter, compared to analysts’ expectations of $340.91 million. During the same quarter in the prior year, the company earned ($0.73) earnings per share. Research analysts forecast that TPI Composites, Inc. will post -1.47 EPS 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.