TechPrecision Co. (NASDAQ:TPCS) Sees Significant Decline in Short Interest

TechPrecision Co. (NASDAQ:TPCS) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 8,500 shares, a decline of 14.1% from the December 15th total of 9,900 shares. Based on an average daily volume of 27,100 shares, the short-interest ratio is currently 0.3 days. Approximately 0.1% of the shares of the company are sold short.

TechPrecision Price Performance

Shares of TPCS stock traded up $0.06 during trading hours on Friday, reaching $3.21. 30,115 shares of the company’s stock were exchanged, compared to its average volume of 28,543. The company’s 50 day moving average is $3.47 and its two-hundred day moving average is $3.49. The company has a market cap of $30.88 million, a P/E ratio of -3.53 and a beta of 0.19. TechPrecision has a 1 year low of $2.85 and a 1 year high of $5.95.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in TechPrecision stock. Geode Capital Management LLC lifted its stake in shares of TechPrecision Co. (NASDAQ:TPCS) by 10.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 81,956 shares of the industrial products company’s stock after purchasing an additional 7,516 shares during the quarter. Geode Capital Management LLC owned about 0.85% of TechPrecision worth $257,000 at the end of the most recent quarter. 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.