Techprecision Corp. (NASDAQ:TPCS) Sees Large Decrease in Short Interest

Techprecision Corp. (NASDAQ:TPCS) saw a significant decrease in short interest during the month of April. As of April 30th, there was short interest totaling 10,131 shares, a decrease of 35.0% from the April 15th total of 15,577 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 56,956 shares, the days-to-cover ratio is presently 0.2 days.

Techprecision Stock Performance

NASDAQ:TPCS opened at $3.83 on Wednesday. Techprecision has a 1 year low of $2.88 and a 1 year high of $6.25. The stock has a market cap of $38.34 million, a price-to-earnings ratio of -31.91 and a beta of 0.49. The business has a fifty day moving average of $3.66 and a 200-day moving average of $4.23.

Techprecision (NASDAQ:TPCS) last released its quarterly earnings results on Tuesday, February 17th. The industrial products company reported ($0.15) earnings per share (EPS) for the quarter. Techprecision had a negative return on equity of 13.31% and a negative net margin of 3.43%.The business had revenue of $7.09 million during the quarter.

Hedge Funds Weigh In On Techprecision

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TPCS. NewEdge Advisors LLC boosted its stake in Techprecision by 55.2% during the 1st quarter. NewEdge Advisors LLC now owns 23,658 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 8,412 shares in the last quarter. Diversify Advisory Services LLC bought a new position in Techprecision during the 2nd quarter valued at $94,000. JPMorgan Chase & Co. bought a new position in Techprecision during the 3rd quarter valued at $73,000. Vanguard Group Inc. boosted its stake in Techprecision by 22.9% during the 3rd quarter. Vanguard Group Inc. now owns 323,830 shares of the industrial products company’s stock valued at $1,723,000 after purchasing an additional 60,364 shares in the last quarter. Finally, Kingsview Wealth Management LLC boosted its stake in Techprecision by 87.3% during the 3rd quarter. Kingsview Wealth Management LLC now owns 21,160 shares of the industrial products company’s stock valued at $113,000 after purchasing an additional 9,860 shares in the last quarter. 15.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Techprecision in a report on Monday, May 4th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Techprecision Company Profile

TechPrecision, Inc (NASDAQ:TPCS) specializes in the design, engineering and manufacture of high-precision automated machinery and turnkey production solutions. The company’s core offerings include assembly, test and inspection equipment, servo-electric press systems and custom packaging machines tailored for industries with stringent quality and regulatory requirements. TechPrecision’s products support medical device, pharmaceutical, consumer goods and industrial applications, delivering end-to-end services from concept development and prototyping to full-scale production and after-market support.

Founded in 1987 and headquartered in Fredericksburg, Virginia, TechPrecision operates two primary manufacturing facilities: its U.S.