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

TechPrecision Co. (NASDAQ:TPCS) was the target of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 13,300 shares, an increase of 129.3% from the February 13th total of 5,800 shares. Based on an average daily volume of 33,300 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.2% of the shares of the company are sold short.

Institutional Investors Weigh In On TechPrecision

A number of institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of TechPrecision by 10.1% in the third quarter. Geode Capital Management LLC now owns 81,956 shares of the industrial products company’s stock worth $257,000 after buying an additional 7,516 shares in the last quarter. Northern Trust Corp raised its stake in TechPrecision by 65.4% in the fourth quarter. Northern Trust Corp now owns 31,264 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 12,366 shares in the last quarter. Finally, NewEdge Advisors LLC purchased a new stake in TechPrecision in the fourth quarter valued at approximately $56,000. 15.52% of the stock is owned by hedge funds and other institutional investors.

TechPrecision Stock Up 4.4 %

NASDAQ TPCS opened at $2.85 on Friday. The company has a market cap of $27.54 million, a PE ratio of -3.13 and a beta of 0.18. TechPrecision has a 52 week low of $2.16 and a 52 week high of $5.95. The firm’s 50-day simple moving average is $3.04 and its two-hundred day simple moving average is $3.32.

TechPrecision (NASDAQ:TPCS) last released its quarterly earnings data on Tuesday, January 21st. The industrial products company reported ($0.06) EPS 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.