Techprecision (NASDAQ:TPCS) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened
by Mitch Edgeman · The Markets DailyTechprecision Corp. (NASDAQ:TPCS – Get Free Report)’s stock price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $4.37 and traded as high as $5.35. Techprecision shares last traded at $5.26, with a volume of 7,818 shares.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings upgraded shares of Techprecision from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.
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Techprecision Stock Performance
The business has a fifty day simple moving average of $5.26 and a two-hundred day simple moving average of $4.37. The company has a market cap of $53.28 million, a PE ratio of -40.46 and a beta of 0.41.
Techprecision (NASDAQ:TPCS – Get Free Report) last released its earnings results on Thursday, August 13th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter. The business had revenue of $9.10 million for the quarter. Techprecision had a negative return on equity of 15.07% and a negative net margin of 3.66%.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Techprecision stock. Potomac Capital Management Inc. acquired a new stake in Techprecision Corp. (NASDAQ:TPCS – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 249,561 shares of the industrial products company’s stock, valued at approximately $1,205,000. Techprecision accounts for about 1.0% of Potomac Capital Management Inc.’s investment portfolio, making the stock its 24th biggest position. Potomac Capital Management Inc. owned about 2.49% of Techprecision at the end of the most recent reporting period. Hedge funds and other institutional investors own 15.52% of the company’s stock.
About Techprecision
TechPrecision Corporation is a U.S.-based manufacturer of precision-fabricated and machined metal components and systems. The company serves customers in the defense, energy and precision industrial markets, producing complex parts and assemblies that require specialized engineering, fabrication and machining capabilities.
Its products and services include precision metal fabrication, machining, welding, assembly and related manufacturing support. TechPrecision has also manufactured large, highly engineered structures and components such as pressure vessels, vacuum chambers and other equipment used in demanding industrial and energy applications.
The company conducts its operations through its manufacturing businesses, including Ranor, Inc TechPrecision primarily serves industrial customers in the United States and focuses on projects requiring close tolerances, advanced materials and compliance with industry-specific quality standards.