Short Interest in Techprecision Corp. (NASDAQ:TPCS) Decreases By 64.2%

Key Points

• Short interest in Techprecision Corp. decreased by 64.2% in September, from 60,000 shares to 21,500 shares, indicating reduced bearish sentiment among investors.
• Techprecision's stock price is currently at $5.25, with a twelve-month trading range between $2.05 and $6.25.
• Institutional investors and hedge funds own 15.52% of the company's stock, with several funds recently increasing their positions in Techprecision.

Techprecision Corp. (NASDAQ:TPCS - Get Free Report) saw a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 21,500 shares, a decline of 64.2% from the August 31st total of 60,000 shares. Based on an average daily volume of 64,100 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.2% of the company's stock are short sold. Currently, 0.2% of the company's stock are short sold. Based on an average daily volume of 64,100 shares, the days-to-cover ratio is currently 0.3 days.

Techprecision Stock Performance

Shares of NASDAQ TPCS traded down $0.04 during mid-day trading on Thursday, reaching $5.25. The company had a trading volume of 7,293 shares, compared to its average volume of 48,177. Techprecision has a twelve month low of $2.05 and a twelve month high of $6.25. The stock has a market capitalization of $52.24 million, a PE ratio of -27.63 and a beta of 0.14. The stock's 50 day moving average is $5.23 and its 200-day moving average is $3.84.

Techprecision (NASDAQ:TPCS - Get Free Report) last posted its quarterly earnings results on Thursday, August 21st. The industrial products company reported ($0.06) earnings per share for the quarter. The company had revenue of $7.38 million during the quarter. Techprecision had a negative return on equity of 22.22% and a negative net margin of 5.64%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Techprecision to a "hold" rating in a research note on Saturday, August 9th.

Hedge Funds Weigh In On Techprecision

Several hedge funds have recently bought and sold shares of the business. Diversify Advisory Services LLC acquired a new position in Techprecision during the second quarter worth $94,000. ARS Investment Partners LLC increased its position in Techprecision by 9.9% during the second quarter. ARS Investment Partners LLC now owns 312,608 shares of the industrial products company's stock worth $1,169,000 after buying an additional 28,287 shares during the last quarter. Kingsview Wealth Management LLC acquired a new position in Techprecision during the second quarter worth $42,000. NewEdge Advisors LLC increased its position in Techprecision by 55.2% during the first quarter. NewEdge Advisors LLC now owns 23,658 shares of the industrial products company's stock worth $54,000 after buying an additional 8,412 shares during the last quarter. Finally, Northern Trust Corp increased its position in Techprecision by 65.4% during the fourth quarter. Northern Trust Corp now owns 31,264 shares of the industrial products company's stock worth $114,000 after buying an additional 12,366 shares during the last quarter. 15.52% of the stock is owned by institutional investors and hedge funds.

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.

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