Techprecision (NASDAQ:TPCS) Releases Quarterly Earnings Results

Techprecision (NASDAQ:TPCS) released its earnings results on Thursday. The industrial products company reported ($0.02) EPS for the quarter, FiscalAI reports. Techprecision had a negative return on equity of 14.78% and a negative net margin of 3.66%.The company had revenue of $9.10 million during the quarter.

Here are the key takeaways from Techprecision’s conference call:

• First-quarter revenue rose 23% to $9.1 million, while gross profit increased 36% to $1.4 million. Ranor revenue grew 27% and Stadco revenue increased 22%, with Stadco gross profit improving 65% year over year.
• TechPrecision reported a $52 million funded backlog, plus approximately $22 million in unfunded purchase orders, which management expects to deliver over the next one to three fiscal years with gross-margin expansion.
• Defense-sector demand remains strong, supported by more than $24 million in grants tied to U.S. Navy submarine programs and continued new quoting opportunities from existing and prospective air-defense and submarine-defense customers.
• Cash management and deleveraging improved: operating and investing activities generated $1.9 million of cash, while total debt declined to $5.0 million from $7.0 million at the end of the prior quarter.
• Management said Stadco has reduced loss-making work to less than 50% of its business and is implementing stricter quoting, milestone reviews, and estimate-to-complete processes. However, the company still posted a $153,000 quarterly net loss and acknowledged that Stadco has more work to do before reaching profitability.

Techprecision Stock Up 23.8%

NASDAQ TPCS traded up $1.15 during trading hours on Friday, hitting $5.99. 521,999 shares of the company were exchanged, compared to its average volume of 32,221. Techprecision has a 52 week low of $2.88 and a 52 week high of $6.10. The stock has a 50-day moving average price of $4.46 and a 200 day moving average price of $4.10. The stock has a market cap of $60.02 million, a PE ratio of -46.07 and a beta of 0.41.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Techprecision in a report on Friday, July 31st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Hedge Funds Weigh In On Techprecision

Institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC raised its holdings in Techprecision by 55.2% during the 1st quarter. NewEdge Advisors LLC now owns 23,658 shares of the industrial products company’s stock valued at $54,000 after buying an additional 8,412 shares during the period. Jane Street Group LLC bought a new position in Techprecision during the fourth quarter valued at $64,000. JPMorgan Chase & Co. bought a new position in Techprecision during the third quarter valued at $73,000. Dimensional Fund Advisors LP raised its stake in shares of Techprecision by 29.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,831 shares of the industrial products company’s stock valued at $86,000 after acquiring an additional 4,071 shares during the period. Finally, Diversify Advisory Services LLC purchased a new stake in shares of Techprecision in the second quarter valued at $94,000. Hedge funds and other institutional investors own 15.52% of the company’s stock.

Techprecision Company Profile

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.