Techprecision (NASDAQ:TPCS) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Techprecision Corp. (NASDAQ:TPCS) shares have surpassed their 200-day moving average of $3.84, peaking at $5.33 during trading, with a last trade at $5.28.
• Wall Street analysts have upgraded Techprecision to a "hold" rating, which reflects anticipated growth potential for the company.
• The company has faced financial challenges, reporting a negative earnings per share of ($0.06) along with a revenue of $7.38 million for the last quarter.

Techprecision Corp. (NASDAQ:TPCS - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.84 and traded as high as $5.33. Techprecision shares last traded at $5.28, with a volume of 41,309 shares trading hands.

Wall Street Analysts Forecast Growth

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

Techprecision Trading Down 0.9%

The firm has a market capitalization of $52.54 million, a PE ratio of -27.79 and a beta of 0.14. The firm has a 50-day moving average of $5.23 and a two-hundred day moving average of $3.84.

Techprecision (NASDAQ:TPCS - Get Free Report) last issued its earnings results on Thursday, August 21st. The industrial products company reported ($0.06) earnings per share for the quarter. The firm 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%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. NewEdge Advisors LLC raised its position in shares of Techprecision by 55.2% in 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 period. Kingsview Wealth Management LLC purchased a new position in shares of Techprecision in the 2nd quarter worth $42,000. Northern Trust Corp raised its position 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 worth $114,000 after buying an additional 12,366 shares during the period. Diversify Advisory Services LLC purchased a new position in shares of Techprecision in the 2nd quarter worth $94,000. Finally, ARS Investment Partners LLC raised its position in Techprecision by 9.9% in the second quarter. ARS Investment Partners LLC now owns 312,608 shares of the industrial products company's stock valued at $1,169,000 after purchasing an additional 28,287 shares during the period. 15.52% of the stock is owned by hedge funds and other institutional investors.

Techprecision Company Profile

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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