Techprecision Corp. (NASDAQ:TPCS) Sees Significant Decline in Short Interest

Techprecision Corp. (NASDAQ:TPCS) was the target of a significant decrease in short interest in April. As of April 30th, there was short interest totaling 10,131 shares, a decrease of 35.0% from the April 15th total of 15,577 shares. Based on an average daily trading volume, of 56,956 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Techprecision in a research report on Monday, May 4th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Techprecision currently has an average rating of “Sell”.

Institutional Trading of Techprecision

Hedge funds and other institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC boosted its holdings 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 purchasing an additional 8,412 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Techprecision in the 4th quarter valued at approximately $64,000. JPMorgan Chase & Co. purchased a new stake in Techprecision in the 3rd quarter valued at approximately $73,000. Dimensional Fund Advisors LP raised its position in shares of Techprecision by 29.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 17,831 shares of the industrial products company’s stock worth $86,000 after buying an additional 4,071 shares during the period. Finally, Diversify Advisory Services LLC bought a new position in shares of Techprecision during the second quarter worth about $94,000. Hedge funds and other institutional investors own 15.52% of the company’s stock.

Techprecision Stock Down 1.0%

TPCS traded down $0.04 during trading on Monday, hitting $3.96. The company had a trading volume of 11,069 shares, compared to its average volume of 44,866. Techprecision has a one year low of $2.88 and a one year high of $6.25. The company has a market capitalization of $39.64 million, a PE ratio of -33.00 and a beta of 0.49. The firm’s 50-day moving average price is $3.65 and its 200 day moving average price is $4.24.

Techprecision (NASDAQ:TPCS) last announced its quarterly earnings results on Tuesday, February 17th. The industrial products company reported ($0.15) EPS for the quarter. The firm had revenue of $7.09 million for the quarter. Techprecision had a negative net margin of 3.43% and a negative return on equity of 13.31%.

Techprecision Company Profile

TechPrecision, Inc (NASDAQ:TPCS) specializes in the design, engineering and manufacture of high-precision automated machinery and turnkey production solutions. The company’s core offerings include assembly, test and inspection equipment, servo-electric press systems and custom packaging machines tailored for industries with stringent quality and regulatory requirements. TechPrecision’s products support medical device, pharmaceutical, consumer goods and industrial applications, delivering end-to-end services from concept development and prototyping to full-scale production and after-market support.

Founded in 1987 and headquartered in Fredericksburg, Virginia, TechPrecision operates two primary manufacturing facilities: its U.S.