Techprecision (NASDAQ:TPCS) Posts Quarterly Earnings Results

Techprecision (NASDAQ:TPCS) posted its quarterly earnings results on Thursday. The industrial products company reported $0.08 EPS for the quarter, FiscalAI reports. The business had revenue of $9.09 million for the quarter. Techprecision had a negative return on equity of 22.22% and a negative net margin of 5.64%.

Techprecision Stock Up 9.4%

Shares of TPCS traded up $0.42 during trading hours on Friday, reaching $4.90. 174,593 shares of the company traded hands, compared to its average volume of 46,867. The stock has a market capitalization of $48.77 million, a PE ratio of -25.34 and a beta of 0.12. The stock has a fifty day simple moving average of $5.07 and a 200 day simple moving average of $4.40. Techprecision has a fifty-two week low of $2.05 and a fifty-two week high of $6.25.

Hedge Funds Weigh In On Techprecision

Institutional investors and hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC raised 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 acquiring an additional 8,412 shares in the last quarter. Kingsview Wealth Management LLC acquired a new stake in Techprecision in the 2nd quarter valued at approximately $42,000. ARS Investment Partners LLC increased its holdings in shares of Techprecision by 9.9% during the second quarter. ARS Investment Partners LLC now owns 312,608 shares of the industrial products company’s stock valued at $1,169,000 after purchasing an additional 28,287 shares during the period. Diversify Advisory Services LLC bought a new stake in shares of Techprecision during the second quarter valued at about $94,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Techprecision in the 3rd quarter worth approximately $73,000. Hedge funds and other institutional investors own 15.52% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on TPCS. Wall Street Zen raised shares of Techprecision to a “hold” rating in a research report on Saturday, August 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Techprecision in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

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.