Harel Insurance Investments & Financial Services Ltd. Sells 43,486 Shares of TPI Composites, Inc. (NASDAQ:TPIC)

Harel Insurance Investments & Financial Services Ltd. decreased its position in TPI Composites, Inc. (NASDAQ:TPIC) by 39.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 66,750 shares of the industrial products company’s stock after selling 43,486 shares during the period. Harel Insurance Investments & Financial Services Ltd. owned about 0.14% of TPI Composites worth $266,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Perigon Wealth Management LLC bought a new stake in TPI Composites in the first quarter valued at $36,000. Cedar Point Capital Partners LLC bought a new stake in TPI Composites in the fourth quarter valued at $41,000. SG Americas Securities LLC bought a new stake in TPI Composites in the second quarter valued at $44,000. State Board of Administration of Florida Retirement System boosted its holdings in TPI Composites by 55.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 16,680 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 5,930 shares in the last quarter. Finally, Fiduciary Trust Co bought a new stake in TPI Composites in the fourth quarter valued at $54,000. Institutional investors own 75.24% of the company’s stock.

TPI Composites Stock Performance

Shares of TPIC traded down $0.35 during trading hours on Tuesday, hitting $3.64. The company had a trading volume of 295,780 shares, compared to its average volume of 1,026,283. The firm has a fifty day moving average price of $4.20 and a 200-day moving average price of $3.63. The stock has a market capitalization of $173.08 million, a price-to-earnings ratio of -0.82 and a beta of 1.95. TPI Composites, Inc. has a 52-week low of $1.63 and a 52-week high of $5.75.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TPIC shares. Evercore ISI upgraded shares of TPI Composites to a “strong-buy” rating in a report on Monday, August 12th. JPMorgan Chase & Co. boosted their target price on shares of TPI Composites from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Roth Mkm boosted their target price on shares of TPI Composites from $3.30 to $3.75 and gave the company a “neutral” rating in a report on Monday, May 6th. Piper Sandler boosted their target price on shares of TPI Composites from $3.50 to $3.70 and gave the company a “neutral” rating in a report on Monday, August 12th. Finally, Bank of America boosted their target price on shares of TPI Composites from $5.00 to $6.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, TPI Composites presently has an average rating of “Hold” and an average target price of $5.09.

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.