TechPrecision Co. (NASDAQ:TPCS) Short Interest Up 115.2% in March

TechPrecision Co. (NASDAQ:TPCS) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 35,500 shares, an increase of 115.2% from the March 15th total of 16,500 shares. Based on an average daily trading volume, of 36,300 shares, the short-interest ratio is currently 1.0 days. Currently, 0.4% of the shares of the company are short sold.

TechPrecision Stock Performance

TPCS traded up $0.05 during trading hours on Wednesday, reaching $2.45. The company’s stock had a trading volume of 418 shares, compared to its average volume of 25,704. The company’s 50-day moving average is $2.63 and its 200-day moving average is $3.16. TechPrecision has a 52 week low of $2.05 and a 52 week high of $5.25. The firm has a market cap of $23.67 million, a PE ratio of -2.69 and a beta of 0.13.

TechPrecision (NASDAQ:TPCS) last released its quarterly earnings results on Tuesday, April 8th. The industrial products company reported ($0.08) earnings per share (EPS) for the quarter. The firm had revenue of $7.62 million during the quarter. TechPrecision had a negative net margin of 24.25% and a negative return on equity of 86.04%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TPCS. Geode Capital Management LLC raised its position in TechPrecision by 10.1% during the third 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 in the last quarter. NewEdge Advisors LLC bought a new stake in shares of TechPrecision during the 4th quarter valued at approximately $56,000. Finally, Northern Trust Corp increased its holdings 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 buying an additional 12,366 shares in the last quarter. Institutional investors own 15.52% of the company’s stock.

About TechPrecision

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.