Techprecision Corp. (NASDAQ:TPCS) Short Interest Up 42.5% in August

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) saw a significant growth in short interest in 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. Based on an average trading volume of 64,900 shares, the days-to-cover ratio is currently 0.9 days. Approximately 0.7% of the shares of the company are short sold. Approximately 0.7% of the shares of the company are short sold. Based on an average trading volume of 64,900 shares, the days-to-cover ratio is currently 0.9 days.

Techprecision Price Performance

Techprecision stock opened at $5.41 on Tuesday. The stock has a market capitalization of $53.83 million, a PE ratio of -28.47 and a beta of 0.19. Techprecision has a 12 month low of $2.05 and a 12 month high of $6.25. The business has a 50 day simple moving average of $4.80 and a 200-day simple moving average of $3.65.

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

Institutional Trading of Techprecision

Several large investors have recently added to or reduced their stakes in the stock. Diversify Advisory Services LLC purchased a new stake in Techprecision in the 2nd quarter valued at $94,000. ARS Investment Partners LLC grew its holdings in Techprecision by 9.9% in the 2nd quarter. ARS Investment Partners LLC now owns 312,608 shares of the industrial products company's stock valued at $1,169,000 after buying an additional 28,287 shares in the last quarter. Kingsview Wealth Management LLC purchased a new stake in Techprecision in the 2nd quarter valued at $42,000. NewEdge Advisors LLC grew its holdings in Techprecision by 55.2% in the 1st quarter. NewEdge Advisors LLC now owns 23,658 shares of the industrial products company's stock valued at $54,000 after buying an additional 8,412 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in 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 buying an additional 12,366 shares in the last quarter. 15.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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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