Potomac Capital Management Inc. Takes $1.21 Million Position in Techprecision Corp. $TPCS

Potomac Capital Management Inc. acquired a new stake in shares of Techprecision Corp. (NASDAQ:TPCS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 249,561 shares of the industrial products company’s stock, valued at approximately $1,205,000. Techprecision comprises about 1.0% of Potomac Capital Management Inc.’s portfolio, making the stock its 24th largest position.

A number of other hedge funds have also made changes to their positions in the stock. NewEdge Advisors LLC raised its holdings in Techprecision by 55.2% in the 1st quarter. NewEdge Advisors LLC now owns 23,658 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 8,412 shares during the period. JPMorgan Chase & Co. bought a new position in Techprecision in the 3rd quarter worth $73,000. Diversify Advisory Services LLC bought a new position in Techprecision in the 2nd quarter worth $94,000. North Star Investment Management Corp. raised its holdings in Techprecision by 699,900.0% in the 4th quarter. North Star Investment Management Corp. now owns 21,000 shares of the industrial products company’s stock worth $101,000 after acquiring an additional 20,997 shares during the period. Finally, Citadel Advisors LLC raised its holdings in Techprecision by 29.7% in the 3rd quarter. Citadel Advisors LLC now owns 19,940 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 4,566 shares during the period. Institutional investors and hedge funds own 15.52% of the company’s stock.

Techprecision Price Performance

Shares of TPCS opened at $3.63 on Wednesday. The company has a market capitalization of $36.34 million, a PE ratio of -30.25 and a beta of 0.46. Techprecision Corp. has a one year low of $2.88 and a one year high of $6.25. The company’s fifty day moving average price is $3.77 and its 200 day moving average price is $4.17.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Techprecision in a report on Monday, May 4th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

About Techprecision

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.