TechPrecision Co. (NASDAQ:TPCS) Short Interest Up 24.1% in March

TechPrecision Co. (NASDAQ:TPCS) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 16,500 shares, an increase of 24.1% from the February 28th total of 13,300 shares. Based on an average daily volume of 35,500 shares, the short-interest ratio is presently 0.5 days. Approximately 0.2% of the shares of the stock are short sold.

TechPrecision Stock Performance

TechPrecision stock traded up $0.01 during mid-day trading on Wednesday, hitting $2.35. 1,942 shares of the company traded hands, compared to its average volume of 28,269. TechPrecision has a one year low of $2.12 and a one year high of $5.95. The stock has a market cap of $22.71 million, a price-to-earnings ratio of -2.58 and a beta of 0.18. The stock has a fifty day moving average price of $2.85 and a 200-day moving average price of $3.24.

TechPrecision (NASDAQ:TPCS) last posted its quarterly earnings data on Tuesday, January 21st. The industrial products company reported ($0.06) earnings per share (EPS) for the quarter. TechPrecision had a negative return on equity of 86.04% and a negative net margin of 24.25%.

Hedge Funds Weigh In On TechPrecision

Several institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC bought a new position in TechPrecision during the fourth quarter valued at approximately $56,000. Northern Trust Corp raised its position in TechPrecision by 65.4% in the 4th quarter. Northern Trust Corp now owns 31,264 shares of the industrial products company’s stock worth $114,000 after purchasing an additional 12,366 shares during the period. Finally, Geode Capital Management LLC lifted its stake in TechPrecision by 10.1% in the third quarter. Geode Capital Management LLC now owns 81,956 shares of the industrial products company’s stock worth $257,000 after purchasing an additional 7,516 shares during the last quarter. 15.52% of the stock is currently owned by institutional investors.

About TechPrecision

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.