TechPrecision Corp (OTCMKTS:TPCS) Takes Another Small Step Up
tags: TPCS
The stock of TechPrecision Corp (OTCMKTS:TPCS) was sliding sideways for quite some time, keeping a price of around 20 cents per share. The volumes were barely there and we saw the ticker finish some sessions without a single share changing hands.
The ticker suddenly gained investor attention in the end of last month and surged up the charts. The price wasn’t the only thing that went up, however, and we also saw a spike in daily volumes. The reason was clear. It was the financial report of the company for the annual period ended March 31, 2016 and contained the following numbers of prime interest.
- cash: $1.33 million
- current assets: $6.4 million
- current liabilities: $5.9 million
- net sales: $16.85 million
- net income: $1.36 million
Those numbers are pretty decent, especially for a pennystock. We rarely see such figures in the sales department and it’s even more uncommon to see a net income upward of $1 million. Still, the bane of existence for such decent OTC companies is that they hardly manage to attract investor attention.
Even the recent excitement ended quite fast. By now the volumes have dropped significantly and we saw a total of 271 thousand shares change their owners, generating $113 thousand in daily dollar volume, as TPCS gained 9.73% in value, closing yesterday’s session with a price of $0.41.
The last couple of sessions show us that TPCS has become quite hesitant, although its market cap is just around $12 million. In any case, be sure to do your due diligence and weigh out the risks before putting any money on the line.
