TechPrecision Co. (NASDAQ:TPCS) Sees Significant Increase in Short Interest

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

TechPrecision Stock Performance

TPCS traded down $0.39 during midday trading on Friday, hitting $4.75. 4,830 shares of the company traded hands, compared to its average volume of 25,561. The business has a 50 day simple moving average of $4.22 and a two-hundred day simple moving average of $5.14. TechPrecision has a 52-week low of $2.85 and a 52-week high of $8.33.

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

Hedge Funds Weigh In On TechPrecision

An institutional investor recently bought a new position in TechPrecision stock. Wynnefield Capital Inc. acquired a new stake in TechPrecision Co. (NASDAQ:TPCS) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 393,857 shares of the industrial products company’s stock, valued at approximately $2,859,000. TechPrecision comprises about 1.3% of Wynnefield Capital Inc.’s investment portfolio, making the stock its 11th largest holding. Wynnefield Capital Inc. owned 4.51% of TechPrecision as of its most recent filing with the SEC. 15.52% of the stock is owned by institutional investors and hedge funds.

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.