Techprecision (NASDAQ:TPCS) Stock Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Techprecision Corp. (NASDAQ:TPCS) shares crossed above their 200-day moving average of $3.32, reaching a high of $5.68 during trading.
• The company reported a negative net margin of 8.07% and a negative P/E ratio of -18.31, with revenue of $9.48 million in its last earnings report.
• Several institutional investors have increased their positions in Techprecision, with Northern Trust Corp growing its holdings by 65.4% in the last quarter.

Shares of Techprecision Corp. (NASDAQ:TPCS - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.32 and traded as high as $5.68. Techprecision shares last traded at $5.31, with a volume of 43,171 shares changing hands.

Analyst Ratings Changes

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

Techprecision Trading Down 3.3%

The company's fifty day moving average is $4.06 and its 200 day moving average is $3.32. The company has a market cap of $51.93 million, a P/E ratio of -18.31 and a beta of 0.25.

Techprecision (NASDAQ:TPCS - Get Free Report) last released its earnings results on Tuesday, July 29th. The industrial products company reported $0.01 EPS for the quarter. Techprecision had a negative net margin of 8.07% and a negative return on equity of 32.70%. The company had revenue of $9.48 million for the quarter.

Hedge Funds Weigh In On Techprecision

Several institutional investors and hedge funds have recently made changes to their positions in TPCS. 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 worth $114,000 after acquiring an additional 12,366 shares during the last quarter. NewEdge Advisors LLC bought a new stake in Techprecision in the 4th quarter worth $56,000. Diversify Advisory Services LLC bought a new stake in Techprecision in the 2nd quarter worth $94,000. Kingsview Wealth Management LLC bought a new stake in Techprecision in the 2nd quarter worth $42,000. Finally, 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 worth $1,169,000 after acquiring an additional 28,287 shares during the last quarter. Institutional investors own 15.52% of the company's stock.

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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