TechPrecision Co. (NASDAQ:TPCS) Short Interest Up 70.6% in May

TechPrecision Co. (NASDAQ:TPCS) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 27,300 shares, an increase of 70.6% from the April 30th total of 16,000 shares. Based on an average daily volume of 52,800 shares, the short-interest ratio is presently 0.5 days. Approximately 0.3% of the shares of the company are sold short.

Institutional Inflows and Outflows

An institutional investor recently raised its position in TechPrecision stock. Northern Trust Corp increased its holdings in shares of TechPrecision Co. (NASDAQ:TPCS) by 65.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,264 shares of the industrial products company’s stock after acquiring an additional 12,366 shares during the period. Northern Trust Corp owned approximately 0.32% of TechPrecision worth $114,000 as of its most recent SEC filing. 15.52% of the stock is owned by institutional investors and hedge funds.

TechPrecision Stock Performance

NASDAQ:TPCS opened at $3.82 on Monday. The firm has a market cap of $37.25 million, a P/E ratio of -4.20 and a beta of 0.04. The stock’s 50 day simple moving average is $2.88 and its 200-day simple moving average is $3.09. TechPrecision has a 12-month low of $2.05 and a 12-month high of $4.42.

TechPrecision (NASDAQ:TPCS) last released its earnings results on Tuesday, April 8th. The industrial products company reported ($0.08) earnings per share (EPS) for the quarter. TechPrecision had a negative net margin of 24.25% and a negative return on equity of 86.04%. The company had revenue of $7.62 million during the quarter.

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.