TechPrecision Co. (NASDAQ:TPCS) Short Interest Update

TechPrecision Co. (NASDAQ:TPCS) was the target of a large growth in short interest in 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 short-interest ratio is presently 1.2 days. Approximately 0.4% of the shares of the company are short sold.

TechPrecision Price Performance

NASDAQ:TPCS traded down $0.39 on Friday, reaching $4.75. 4,830 shares of the company’s stock were exchanged, compared to its average volume of 25,561. The stock has a fifty day simple moving average of $4.22 and a 200-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 results on Thursday, February 29th. The industrial products company reported ($0.10) EPS for the quarter. TechPrecision had a negative net margin of 9.59% and a negative return on equity of 21.25%. The business had revenue of $7.65 million for the quarter.

Hedge Funds Weigh In On TechPrecision

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