TechPrecision Co. (NASDAQ:TPCS) Sees Large Increase in Short Interest

TechPrecision Co. (NASDAQ:TPCS) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 16,500 shares, an increase of 24.1% from the February 28th total of 13,300 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average trading volume of 35,500 shares, the days-to-cover ratio is currently 0.5 days.

Hedge Funds Weigh In On TechPrecision

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of TechPrecision by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 81,956 shares of the industrial products company’s stock valued at $257,000 after purchasing an additional 7,516 shares during the period. Northern Trust Corp raised its holdings in TechPrecision by 65.4% in the fourth 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 in the last quarter. Finally, NewEdge Advisors LLC purchased a new position in TechPrecision during the fourth quarter valued at $56,000. Hedge funds and other institutional investors own 15.52% of the company’s stock.

TechPrecision Stock Performance

TPCS stock opened at $2.34 on Thursday. The firm has a 50 day moving average of $2.83 and a 200-day moving average of $3.23. The firm has a market capitalization of $22.61 million, a P/E ratio of -2.57 and a beta of 0.18. TechPrecision has a 12 month low of $2.12 and a 12 month high of $5.95.

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

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.