TechPrecision Corporation (OTCMKTS:TPCS) Stock Moves Up 5% In a Week: Earnings In Focus

TechPrecision Corporation (OTCMKTS:TPCS) is up 5% in a week. The company has released its fiscal Q2 2022 financial results for the period ended September 30, 2021.Net sales during the quarter were up 2% to $4.8 million compared to$4.7 million a year ago.

Market Stats

On Tuesday, TPCS ended higher by 0.53% to $1.90 with more than 32K shares, compared to its average volume of 84K shares. The stock has moved within a range of $1.7200 – 1.9100 after opening trading at $1.90.

Q2 Earnings Review

In addition, the company had a gross profit of $0.9 million, a drop of 18% compared to Q2 2021 but a 12% increase from Q1 2022. CEO Alexander Shen stated that the company’s Q2 2022 financials included 36 days of activity from the newly acquired STADCO subsidiary. In addition, Shen said that the company started integrating STADCO operations during the quarter leading to additional revenue.

However, the absorption of additional costs dampened the company’s margins and increased SG&A costs. At the end of the quarter, the company had a backlog of sales orders of $26.4, including an additional STADCO backlog. Shen said that the company’s assets and key personnel are in place as the company continues to integart6ed STADCO operations.So, TPCS is worth watching.  

Key Quote

“Key personnel and assets remain in place as we begin to integrate the STADCO business,” added Mr. Shen. “We believe business prospects are good as we expect higher revenues for the Company in future quarters.”

Traders Corner

TPCS stock is trading above the 20-Day and 200-Day Moving averages of $1.88 and $1.50 respectively. The stock is trading in the neutral zone with RSI stands at 50.