Weiss Ratings Reaffirms "Sell (D-)" Rating for Techprecision (NASDAQ:TPCS)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for Techprecision (NASDAQ:TPCS), suggesting continuing concerns regarding the company's financial performance.
• In contrast, Wall Street Zen has upgraded Techprecision to a "hold" rating, indicating mixed sentiments among analysts regarding the stock.
• Techprecision reported a quarterly revenue of $7.38 million and a negative return on equity of 22.22%, highlighting ongoing financial challenges for the company.

Techprecision (NASDAQ:TPCS - Get Free Report)'s stock had its "sell (d-)" rating reissued by research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen raised shares of Techprecision to a "hold" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Techprecision currently has an average rating of "Sell".

Techprecision Trading Up 0.9%

NASDAQ:TPCS traded up $0.05 during trading hours on Wednesday, reaching $5.53. 17,763 shares of the company were exchanged, compared to its average volume of 30,395. The stock's 50-day moving average is $5.36 and its 200-day moving average is $3.94. The firm has a market cap of $55.02 million, a PE ratio of -29.11 and a beta of 0.14. Techprecision has a twelve month low of $2.05 and a twelve month high of $6.25.

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

Institutional Investors Weigh In On Techprecision

A number of hedge funds have recently modified their holdings of the company. Diversify Advisory Services LLC purchased a new stake in shares of Techprecision in the second quarter valued at about $94,000. ARS Investment Partners LLC grew its holdings in shares of 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. Kingsview Wealth Management LLC purchased a new stake in shares of Techprecision in the second quarter valued at about $42,000. Finally, NewEdge Advisors LLC lifted its position in Techprecision by 55.2% in 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 last quarter. Hedge funds and other institutional investors own 15.52% of the company's stock.

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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