Techprecision Corp. (NASDAQ:TPCS) Shares Shorted: Short Interest Down 41.2% in October

Key Points

• Techprecision’s short interest fell 41.2% to 9,196 shares as of October 15, representing just 0.1% of shares outstanding and 0.4 days of average trading volume.
• Diversify Wealth Management opened a position worth approximately $106,000, while institutional investors collectively own 15.52% of the company. Despite a ratings upgrade from Weiss Ratings, the stock retains a consensus “Sell” rating.
• Shares recently traded at $5.35, within the company’s $2.88–$6.31 12-month range. Techprecision reported a quarterly loss of $0.02 per share on $9.10 million in revenue, alongside negative net margin and return on equity.

Techprecision Corp. (NASDAQ:TPCS - Get Free Report) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totaling 9,196 shares, a decline of 41.2% from the September 30th total of 15,634 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 26,097 shares, the short-interest ratio is presently 0.4 days.

Hedge Funds Weigh In On Techprecision

A hedge fund recently bought a new position in Techprecision stock. Diversify Wealth Management LLC bought a new position in Techprecision Corp. (NASDAQ:TPCS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 35,288 shares of the industrial products company's stock, valued at approximately $106,000. Diversify Wealth Management LLC owned approximately 0.35% of Techprecision at the end of the most recent quarter. Hedge funds and other institutional investors own 15.52% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Techprecision from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, Techprecision has a consensus rating of "Sell".

Techprecision Stock Performance

NASDAQ TPCS traded down $0.18 on Friday, reaching $5.35. The company's stock had a trading volume of 29,507 shares, compared to its average volume of 26,871. The firm's 50 day moving average is $5.48 and its two-hundred day moving average is $4.52. Techprecision has a twelve month low of $2.88 and a twelve month high of $6.31. The stock has a market cap of $54.20 million, a PE ratio of -41.15 and a beta of 0.56.

Techprecision (NASDAQ:TPCS - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The industrial products company reported ($0.02) EPS for the quarter. The firm had revenue of $9.10 million during the quarter. Techprecision had a negative net margin of 3.66% and a negative return on equity of 15.07%.

Techprecision Company Profile

TechPrecision, Inc NASDAQ: TPCS is a precision manufacturing company that produces complex metal components, assemblies and systems for customers in highly engineered industries. Its capabilities include precision machining, metal fabrication, welding, forming and the production of large, intricate structures made to customer specifications.

The company serves markets that require specialized manufacturing and stringent quality standards, including defense, energy, aerospace, medical and other precision industrial applications.

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