Techprecision (NASDAQ:TPCS) Stock Rating Upgraded by Wall Street Zen

Key Points

• Techprecision (NASDAQ:TPCS) has been upgraded to a "hold" rating by Wall Street Zen, indicating a potential stabilization in its stock performance.
• The company's stock price recently rose by 6.6%, opening at $5.83, significantly up from its 12-month low of $2.05.
• Techprecision reported a negative net margin of 8.07% for the last quarter, highlighting challenges in profitability despite generating $9.48 million in revenue.

Wall Street Zen upgraded shares of Techprecision (NASDAQ:TPCS - Free Report) to a hold rating in a research note published on Saturday morning.

Techprecision Trading Down 3.9%

NASDAQ TPCS traded down $0.22 during mid-day trading on Friday, hitting $5.36. The company's stock had a trading volume of 32,489 shares, compared to its average volume of 47,598. The company's 50 day simple moving average is $3.93 and its 200 day simple moving average is $3.26. Techprecision has a twelve month low of $2.05 and a twelve month high of $6.25. The firm has a market capitalization of $52.42 million, a price-to-earnings ratio of -18.48 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. The company had revenue of $9.48 million for the quarter. Techprecision had a negative return on equity of 32.70% and a negative net margin of 8.07%.

Institutional Investors Weigh In On Techprecision

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TPCS. Kingsview Wealth Management LLC bought a new stake in Techprecision in the 2nd quarter valued at about $42,000. NewEdge Advisors LLC increased its position in shares of Techprecision by 55.2% during the first 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 during the period. Northern Trust Corp increased its position in shares of Techprecision by 65.4% during the fourth 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 during the period. Finally, ARS Investment Partners LLC increased its position in shares of Techprecision by 9.9% during 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 buying an additional 28,287 shares during the period. 15.52% of the stock is currently owned by 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.