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

TechPrecision Co. (NASDAQ:TPCS) was the target of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 34,100 shares, an increase of 4,162.5% from the March 31st total of 800 shares. Based on an average daily trading volume, of 27,500 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.4% of the shares of the stock are short sold.

TechPrecision Stock Down 1.2 %

Shares of TPCS stock traded down $0.06 during trading hours on Thursday, hitting $5.14. 12,841 shares of the company’s stock were exchanged, compared to its average volume of 25,821. The firm has a market cap of $45.13 million, a P/E ratio of -15.12 and a beta of 0.49. The firm has a 50 day moving average of $4.22 and a two-hundred day moving average of $5.14. TechPrecision has a fifty-two week low of $2.85 and a fifty-two week high of $8.33.

TechPrecision (NASDAQ:TPCS) last posted its quarterly earnings data on Thursday, February 29th. The industrial products company reported ($0.10) EPS for the quarter. TechPrecision had a negative net margin of 9.59% and a negative return on equity of 21.25%. The firm had revenue of $7.65 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in TechPrecision stock. Wynnefield Capital Inc. acquired a new stake in TechPrecision Co. (NASDAQ:TPCS) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 393,857 shares of the industrial products company’s stock, valued at approximately $2,859,000. TechPrecision comprises approximately 1.3% of Wynnefield Capital Inc.’s investment portfolio, making the stock its 11th biggest holding. Wynnefield Capital Inc. owned about 4.51% of TechPrecision at the end of the most recent reporting period. 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.