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

Key Points

• Techprecision Corp. experienced a significant increase in short interest of 42.5% in August, bringing the total to 60,000 shares by August 31st.
• The company reported a quarterly EPS of ($0.06) with revenues of $7.38 million and has a market capitalization of $53.83 million.
• Wall Street Zen updated Techprecision's rating to "hold" on August 9th, reflecting a cautious outlook on the stock.

Techprecision Corp. (NASDAQ:TPCS - Get Free Report) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 60,000 shares, a growth of 42.5% from the August 15th total of 42,100 shares. Approximately 0.7% of the company's shares are short sold. Based on an average daily volume of 64,900 shares, the short-interest ratio is currently 0.9 days. Based on an average daily volume of 64,900 shares, the short-interest ratio is currently 0.9 days. Approximately 0.7% of the company's shares are short sold.

Analyst Upgrades and Downgrades

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

Techprecision Trading Up 0.2%

Shares of NASDAQ:TPCS traded up $0.01 on Friday, reaching $5.43. The company had a trading volume of 35,591 shares, compared to its average volume of 52,352. Techprecision has a 52-week low of $2.05 and a 52-week high of $6.25. The firm's 50 day simple moving average is $4.94 and its 200-day simple moving average is $3.71. The firm has a market capitalization of $54.03 million, a PE ratio of -28.58 and a beta of 0.19.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kingsview Wealth Management LLC purchased a new position in Techprecision during the 2nd quarter worth $42,000. NewEdge Advisors LLC grew 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 worth $54,000 after buying an additional 8,412 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in Techprecision during the 2nd quarter worth about $94,000. Northern Trust Corp lifted its position in Techprecision by 65.4% during the 4th quarter. Northern Trust Corp now owns 31,264 shares of the industrial products company's stock worth $114,000 after acquiring an additional 12,366 shares during the period. Finally, ARS Investment Partners LLC lifted its position in Techprecision by 9.9% during the 2nd quarter. ARS Investment Partners LLC now owns 312,608 shares of the industrial products company's stock worth $1,169,000 after acquiring an additional 28,287 shares during the period. 15.52% of the stock is currently owned by hedge funds and other institutional investors.

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.