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Techprecision Corp - TPCS STOCK NEWS

Welcome to our dedicated news page for Techprecision (Ticker: TPCS), a resource for investors and traders seeking the latest updates and insights on Techprecision.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Techprecision's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Techprecision's position in the market.

News
TechPrecision Announces Termination of Agreement to Acquire Votaw Precision Technologies
Rhea-AI Summary
TechPrecision (NASDAQ:TPCS) terminates Stock Purchase Agreement with Doerfer for the acquisition of Votaw Precision Technologies, Inc. The termination led to the disclosure of Cleansing Information provided for the abandoned acquisition financing.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
53.29%
Tags
acquisition
-
News
TechPrecision Announces Receipt of Nasdaq Listing Determination; Expects Deficiency to Be Cured with Filing of Q3 Form 10-Q Today
Rhea-AI Summary
TechPrecision Corporation (NASDAQ:TPCS) received a notice from Nasdaq for non-compliance with filing its Quarterly Report on Form 10-Q. The company has 60 days to submit a plan for compliance, with a possible extension up to 180 days.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
7.91%
Tags
none
-
News
TechPrecision Corporation Reports FY 2024 Third Quarter Financial Results
Rhea-AI Summary
TechPrecision Corporation (TPCS) reports a significant increase in backlog to $50.8 million, with customer confidence remaining high. However, third-quarter net sales were lower at $7.6 million, resulting in a consolidated gross profit of $1.2 million, down 23% from the previous year. Operating losses at Stadco have narrowed, but due diligence costs for a potential acquisition led to a $1.0 million impact on the bottom line. The company's financial position shows negative working capital and increased debt levels.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.19%
Tags
earnings
News
TechPrecision Corporation Schedules Conference Call to Report Fiscal 2024 Third Quarter Financial Results
Rhea-AI Summary
TechPrecision Corporation (NASDAQ:TPCS) announces the release of its 2024 fiscal third-quarter financial results and a conference call scheduled for February 29, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.72%
Tags
conferences earnings
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News
TechPrecision Provides Additional Financial Information in Connection with Pending Acquisition of Votaw
Rhea-AI Summary
TechPrecision Corporation (NASDAQ:TPCS) provided a three-year consolidated forecast, including pro forma guidance for fiscal years 2025, 2026, and 2027, in connection with its pending acquisition of Votaw Precision Technologies, Inc. The company aims to showcase potential growth opportunities and shareholder value increase through this acquisition. The forecast includes projected net sales and EBITDA figures for the upcoming years, emphasizing the strategic importance of the acquisition.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.84%
Tags
acquisition
-
News
WYNNEFIELD CAPITAL IMPLORES TECHPRECISION TO GIVE ALL SHAREHOLDERS A VOICE IN VOTAW PRECISION TECHNOLOGIES TRANSACTION
Rhea-AI Summary
Wynnefield Capital, the largest institutional stockholder of TechPrecision Corporation, is demanding the company's board to allow stockholders to vote on the proposed Votaw acquisition, citing concerns about stockholder value destruction and significant dilution. The company's poor stock performance, declining by 14.7% to $4.46 per share on January 8, 2024, and by 37.8% since the proposed acquisition on November 29, 2023, has raised alarm. TechPrecision's board is accused of disregarding stockholder interests and failing to engage with shareholders. The company's stock performance has been consistently poor, declining by 22.0% on a year-to-date basis and by 37.4% in 2023. The acquisition of STADCO also resulted in a 31.3% decline in TPCS shares. Wynnefield Capital is calling for accountability and transparency from the board and management.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-6.19%
Tags
none
News
TechPrecision Provides Update on Status of Votaw Acquisition
Rhea-AI Summary
TechPrecision Corporation (TPCS) announced the expiration of the 45-day diligence period for the acquisition of Votaw Precision Technologies, Inc. The company is committed to closing the acquisition and believes it will raise revenue to a level more consistent with that typically expected of a public company. The Board is unanimous in support of the acquisition and has a significant personal financial interest in its success.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-14.72%
Tags
acquisition
-
News
Wynnefield Capital Expresses Concern that TechPrecision is Neglecting its Duties by Failing to Explain Proposed Acquisition of Votaw Precision Technologies to Stockholders
Rhea-AI Summary
Wynnefield Capital Concerned About TechPrecision Corporation (NASDAQ: TPCS) Proposed Acquisition of Votaw Precision Technologies
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.39%
Tags
acquisition
-
News
TechPrecision Corp. Provides Select Unaudited FY2023 Financial Information for Votaw Precision Technologies, Inc.
Rhea-AI Summary
TechPrecision Corporation (NASDAQ:TPCS) announced preliminary financial results for the fiscal year ended October 31, 2023 of Votaw Precision Technologies, Inc. Revenues for the fourth quarter were $13.73 million with a net income of $2.015 million. EBITDA for the same period was $2.927 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.93%
Tags
none
News
WYNNEFIELD CAPITAL COMPELLED TO SEND OPEN LETTER TO TECHPRECISION BOARD
Rhea-AI Summary
Wynnefield Capital (NASDAQ: TPCS) demands TechPrecision Corporation hold a public conference call to explain the proposed acquisition of Votaw Precision Technologies to stockholders. The company's recent share price decline to below $6.00, resulting in an end-of-day 52-week low of $6.06 per share and a year-to-date decline of 26.8% as of November 30, 2023. The reported Votaw purchase price of $85 million, plus an additional $25 million as an earnout payment, raises concerns due to TechPrecision's market capitalization of approximately $53 million and its financial liabilities.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1%
Tags
none
Stock TPCS logo
Techprecision Corp

Nasdaq:TPCS

TPCS Rankings

#4776 Ranked by Market Cap
#12 Ranked by Stock Gains
N/A Ranked by Dividends

TPCS Stock Data

47.84M
8.07M
11.43%
15.56%
0.01%
Iron and Steel Forging
Manufacturing
Link
United States
Westminster

About TPCS

ranor, inc. is a leader in the fabrication and machining of precision components and equipment. we serve the alternative energy, nuclear, medical, defense, aerospace, and industrial markets. we are proud to offer our customers customized services and integrated “turn key” solutions for complete products requiring fabrication and machining as well as assembly, inspection and testing. ranor is committed to working with its customers to manufacture their products using the most efficient and precise methods possible. we have earned our reputation through outstanding technical expertise, attention to detail, and a total commitment to quality and excellence.