Short Interest in TechPrecision Co. (NASDAQ:TPCS) Decreases By 84.2%

TechPrecision Co. (NASDAQ:TPCS) was the recipient of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 1,800 shares, a decline of 84.2% from the February 29th total of 11,400 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 14,400 shares, the days-to-cover ratio is presently 0.1 days.

TechPrecision Price Performance

Shares of NASDAQ TPCS opened at $3.67 on Thursday. The business’s 50 day moving average is $3.86 and its two-hundred day moving average is $5.51. TechPrecision has a 1-year low of $2.85 and a 1-year high of $8.33.

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

Institutional Trading of TechPrecision

Large investors have recently modified their holdings of the company. Wynnefield Capital Inc. purchased a new stake in shares of TechPrecision in the third quarter valued at approximately $2,859,000. Jag Capital Management LLC purchased a new stake in TechPrecision during the second quarter worth $197,000. Corsair Capital Management L.P. purchased a new stake in TechPrecision during the second quarter worth $129,000. Potomac Capital Management Inc. purchased a new stake in TechPrecision during the second quarter worth $775,000. Finally, Perritt Capital Management Inc. purchased a new stake in TechPrecision during the second quarter worth $755,000. Hedge funds and other institutional investors own 15.52% of the company’s stock.

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.