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Is It Too Late to Buy TPI Composites (TPIC) Stock?

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Alex Smith
·3 min read
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Wasatch Micro Cap Value Fund recently released its Q4 2020 Investor Letter, a copy of which you can download here. The fund posted a return of 26.1% for the quarter, underperforming its benchmark, the Russell Microcap Index which returned 31.4% in the same quarter. You should check out Wasatch's top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.

In the Q4 2020 Investor Letter, the fund highlighted a few stocks and TPI Composites Inc (NASDAQ:TPIC) is one of them. TPI Composites Inc (NASDAQ:TPIC) engages in the manufacture of composite wind blades for the wind energy market. In the last three months, TPI Composites Inc (NASDAQ:TPIC) stock gained 8.5% and on April 1st it had a closing price of $57.26. Here is what the fund said:

"TPI Composites, Inc. (TPIC) was also a large contributor. Occasionally, we’re asked how our holdings measure up to the priorities of the Democratic Party. In general, we believe a strong company will thrive regardless of which political party is in power. But it’s possible some of our holdings will align particularly well with the incoming Democratic agenda. TPI Composites is a good example of a company that’s well-positioned for green-energy initiatives. The company designs and manufactures composite wind blades for wind energy. The stock was up strongly after TPI announced third-quarter net sales had increased 23.5% compared to the year-ago period. We believe some of this increase was due to the resumption of business that had been postponed during the height of the Covid anxiety. We’d like to find more alternative-energy companies to invest in, but it’s often difficult to uncover companies in this segment that meet our valuation and business-quality standards."

Pixabay/Public Domain

Last month, we published an article revealing that TPI Composites Inc (NASDAQ:TPIC) was one of the 10 best manufacturing stocks to buy now.

In Q3 2020, the number of bullish hedge fund positions on TPI Composites Inc (NASDAQ:TPIC) stock increased by about 54% from the previous quarter (see the chart here), so a number of other hedge fund managers believe in TPIC's growth potential. Our calculations showed that TPI Composites Inc (NASDAQ:TPIC) isn't ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds' poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We go through lists like the 15 best innovative stocks to buy to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website:

Disclosure: None. This article is originally published at Insider Monkey.