TechPrecision Co. (NASDAQ:TPCS) Sees Significant Decrease in Short Interest

TechPrecision Co. (NASDAQ:TPCS) was the recipient of a significant drop in short interest in February. As of February 15th, there was short interest totalling 5,800 shares, a drop of 40.8% from the January 31st total of 9,800 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average trading volume of 31,200 shares, the days-to-cover ratio is presently 0.2 days.

TechPrecision Stock Performance

Shares of TPCS opened at $2.78 on Tuesday. TechPrecision has a fifty-two week low of $2.16 and a fifty-two week high of $5.95. The firm has a market cap of $26.86 million, a price-to-earnings ratio of -3.05 and a beta of 0.17. The firm has a 50 day moving average price of $3.21 and a 200-day moving average price of $3.37.

TechPrecision (NASDAQ:TPCS) last posted its quarterly earnings results on Tuesday, January 21st. The industrial products company reported ($0.06) earnings per share for the quarter. TechPrecision had a negative return on equity of 86.04% and a negative net margin of 24.25%.

Institutional Investors Weigh In On TechPrecision

Several institutional investors have recently bought and sold shares of the stock. Northern Trust Corp increased its stake in TechPrecision by 65.4% in the 4th quarter. Northern Trust Corp now owns 31,264 shares of the industrial products company’s stock worth $114,000 after purchasing an additional 12,366 shares during the period. NewEdge Advisors LLC purchased a new position in shares of TechPrecision in the fourth quarter worth $56,000. Finally, Geode Capital Management LLC increased its stake in shares of TechPrecision by 10.1% in the third quarter. Geode Capital Management LLC now owns 81,956 shares of the industrial products company’s stock worth $257,000 after buying an additional 7,516 shares during the period. 15.52% of the stock is currently owned by hedge funds and other institutional investors.

TechPrecision Company Profile

TechPrecision Corporation, together with its subsidiaries, manufactures and sells precision, fabricated, and machined metal structural components and systems in the United States. The company operates through two segments, Ranor and Stadco. It provides custom components for ships, submarines, military helicopters, aerospace equipment, components for nuclear power plants, and components for medical systems.