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

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

Institutional Trading of TechPrecision

Institutional investors and hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC bought a new position in TechPrecision during the 4th quarter worth $56,000. Northern Trust Corp grew its position in shares of TechPrecision by 65.4% during the fourth quarter. Northern Trust Corp now owns 31,264 shares of the industrial products company’s stock worth $114,000 after acquiring an additional 12,366 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings 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 worth $257,000 after acquiring an additional 7,516 shares during the period. 15.52% of the stock is currently owned by institutional investors and hedge funds.

TechPrecision Price Performance

Shares of TPCS stock traded down $0.09 on Monday, hitting $2.78. 64,115 shares of the stock traded hands, compared to its average volume of 34,313. The company’s fifty day moving average is $3.21 and its 200 day moving average is $3.37. TechPrecision has a 1-year low of $2.16 and a 1-year high of $5.95. The company has a market capitalization of $26.86 million, a PE ratio of -3.05 and a beta of 0.17.

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

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.