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

TechPrecision Co. (NASDAQ:TPCS) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 16,500 shares, an increase of 24.1% from the February 28th total of 13,300 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average trading volume of 35,500 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On TechPrecision

A number of institutional investors have recently bought and sold shares of TPCS. Northern Trust Corp increased its holdings in shares of TechPrecision by 65.4% in the 4th 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 during the period. NewEdge Advisors LLC acquired a new stake in shares of TechPrecision during the fourth quarter worth approximately $56,000. Finally, Geode Capital Management LLC grew 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. 15.52% of the stock is currently owned by institutional investors and hedge funds.

TechPrecision Stock Performance

TechPrecision stock opened at $2.30 on Tuesday. TechPrecision has a 52 week low of $2.12 and a 52 week high of $5.95. The firm has a market capitalization of $22.18 million, a price-to-earnings ratio of -2.52 and a beta of 0.18. The company has a 50 day moving average price of $2.87 and a 200 day moving average price of $3.24.

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

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.