Quantinno Capital Management LP Invests $57,000 in TPI Composites, Inc. (NASDAQ:TPIC)

Quantinno Capital Management LP purchased a new position in shares of TPI Composites, Inc. (NASDAQ:TPIC) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 12,570 shares of the industrial products company’s stock, valued at approximately $57,000.

Several other large investors have also made changes to their positions in TPIC. SG Americas Securities LLC bought a new stake in TPI Composites in the second quarter worth $44,000. Bank of New York Mellon Corp raised its position in shares of TPI Composites by 26.9% in the second quarter. Bank of New York Mellon Corp now owns 156,765 shares of the industrial products company’s stock valued at $625,000 after purchasing an additional 33,275 shares during the period. Rhumbline Advisers boosted its holdings in shares of TPI Composites by 30.6% during the 2nd quarter. Rhumbline Advisers now owns 76,989 shares of the industrial products company’s stock worth $307,000 after buying an additional 18,045 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of TPI Composites by 78.1% during the 2nd quarter. Los Angeles Capital Management LLC now owns 89,777 shares of the industrial products company’s stock worth $358,000 after buying an additional 39,356 shares during the period. Finally, Monaco Asset Management SAM grew its stake in TPI Composites by 20.0% in the 2nd quarter. Monaco Asset Management SAM now owns 60,000 shares of the industrial products company’s stock valued at $239,000 after buying an additional 10,000 shares during the last quarter. Institutional investors own 75.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TPIC. Jefferies Financial Group started coverage on shares of TPI Composites in a research report on Thursday, October 17th. They set a “hold” rating and a $5.00 target price for the company. Morgan Stanley reissued an “underweight” rating and set a $2.00 price objective (down previously from $4.00) on shares of TPI Composites in a research report on Friday, November 15th. Bank of America lowered their price objective on shares of TPI Composites from $7.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of TPI Composites in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $4.58.

TPI Composites Stock Performance

Shares of NASDAQ:TPIC opened at $1.20 on Wednesday. The company’s fifty day moving average is $2.74 and its 200-day moving average is $3.72. TPI Composites, Inc. has a 52 week low of $1.19 and a 52 week high of $5.75. The company has a market capitalization of $57.08 million, a PE ratio of -0.32 and a beta of 1.82.

TPI Composites Company Profile

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.