TechPrecision Co. (NASDAQ:TPCS) Sees Large Growth in Short Interest

TechPrecision Co. (NASDAQ:TPCS) saw a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 34,100 shares, a growth of 4,162.5% from the March 31st total of 800 shares. Based on an average trading volume of 27,500 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.4% of the company’s shares are sold short.

TechPrecision Trading Down 1.2 %

NASDAQ:TPCS traded down $0.06 on Thursday, hitting $5.14. 12,841 shares of the stock were exchanged, compared to its average volume of 25,821. The stock has a market cap of $45.13 million, a PE ratio of -15.12 and a beta of 0.49. The stock has a fifty day moving average of $4.22 and a 200-day moving average of $5.14. TechPrecision has a fifty-two week low of $2.85 and a fifty-two week high of $8.33.

TechPrecision (NASDAQ:TPCS) last announced its quarterly earnings results on Thursday, February 29th. The industrial products company reported ($0.10) EPS for the quarter. TechPrecision had a negative return on equity of 21.25% and a negative net margin of 9.59%. The firm had revenue of $7.65 million for the quarter.

Institutional Investors Weigh In On TechPrecision

An institutional investor recently bought a new position in TechPrecision stock. Wynnefield Capital Inc. bought a new position in TechPrecision Co. (NASDAQ:TPCS) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 393,857 shares of the industrial products company’s stock, valued at approximately $2,859,000. TechPrecision accounts for 1.3% of Wynnefield Capital Inc.’s holdings, making the stock its 11th largest holding. Wynnefield Capital Inc. owned approximately 4.51% of TechPrecision as of its most recent SEC filing. 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.