Perigon Wealth Management LLC Purchased $234,000 in TPI Composites Inc (TPIC)

Perigon Wealth Management LLC Purchased $234,000 in TPI Composites Inc (TPIC)

Perigon Wealth Management LLC purchased a new position in TPI Composites Inc (NASDAQ:TPIC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 13,476 shares of the company’s stock, valued at approximately $234,000.

Other hedge funds also recently made changes to their positions in the company. Wasatch Advisors Inc. acquired a new position in TPI Composites during the third quarter valued at $4,313,000. General Electric Co. acquired a new position in TPI Composites during the third quarter valued at $60,438,000. Lomas Capital Management LLC acquired a new position in TPI Composites during the third quarter valued at $4,698,000. Monashee Investment Management LLC acquired a new position in TPI Composites during the third quarter valued at $282,000. Finally, Integre Asset Management LLC acquired a new position in TPI Composites during the fourth quarter valued at $291,000. 23.80% of the stock is owned by institutional investors.

TPI Composites Inc (NASDAQ:TPIC) opened at 19.01 on Friday. The firm has a market cap of $623.51 million and a PE ratio of 39.77. TPI Composites Inc has a 12-month low of $11.31 and a 12-month high of $23.30. The firm has a 50-day moving average price of $17.84 and a 200 day moving average price of $17.37.

Several research firms recently weighed in on TPIC. Barclays PLC began coverage on TPI Composites in a research report on Friday. They set an “overweight” rating and a $24.00 price objective for the company. Zacks Investment Research raised TPI Composites from a “sell” rating to a “hold” rating in a research report on Wednesday, January 18th. Canaccord Genuity reissued a “buy” rating and set a $20.00 price objective on shares of TPI Composites in a research report on Monday, March 13th. Finally, Roth Capital began coverage on TPI Composites in a research report on Tuesday, January 17th. They set a “buy” rating and a $23.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $22.14.

About TPI Composites

TPI Composites, Inc manufactures composite wind blades. The Company operates through four segments. The United States segment includes the manufacturing of wind blades at its Newton, Iowa plant; the manufacturing of precision molding and assembly systems used for the manufacture of wind blades in its Warren, Rhode Island facility, and the manufacturing of composite solutions for the transportation industry, which it also conducts in its Rhode Island and Massachusetts facilities.

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