Short Interest in TransAct Technologies Incorporated (NASDAQ:TACT) Declines By 20.3%

TransAct Technologies Incorporated (NASDAQ:TACT) was the target of a large decline in short interest in July. As of July 31st, there was short interest totalling 41,700 shares, a decline of 20.3% from the July 15th total of 52,300 shares. Based on an average trading volume of 21,200 shares, the short-interest ratio is currently 2.0 days.

TransAct Technologies Trading Down 1.6 %

NASDAQ:TACT traded down $0.07 during mid-day trading on Friday, hitting $4.38. 9,540 shares of the company’s stock were exchanged, compared to its average volume of 22,107. The company has a 50 day simple moving average of $3.82 and a 200-day simple moving average of $4.89. TransAct Technologies has a fifty-two week low of $3.32 and a fifty-two week high of $7.97. The firm has a market capitalization of $43.76 million, a P/E ratio of 73.00 and a beta of 1.72.

TransAct Technologies (NASDAQ:TACT) last released its earnings results on Thursday, August 8th. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.14. TransAct Technologies had a negative net margin of 0.97% and a negative return on equity of 1.31%. The company had revenue of $11.60 million for the quarter, compared to the consensus estimate of $10.25 million. During the same quarter in the previous year, the company earned $0.22 EPS. As a group, analysts expect that TransAct Technologies will post -0.45 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TACT. StockNews.com started coverage on shares of TransAct Technologies in a research report on Thursday. They set a “buy” rating on the stock. Craig Hallum lowered their price objective on shares of TransAct Technologies from $9.00 to $7.50 and set a “buy” rating for the company in a research report on Wednesday, May 8th.

Institutional Investors Weigh In On TransAct Technologies

A number of hedge funds have recently modified their holdings of TACT. Bard Associates Inc. boosted its holdings in TransAct Technologies by 1.1% in the 4th quarter. Bard Associates Inc. now owns 155,975 shares of the technology company’s stock valued at $1,089,000 after purchasing an additional 1,750 shares during the period. Summit Trail Advisors LLC lifted its position in TransAct Technologies by 15.0% in the 4th quarter. Summit Trail Advisors LLC now owns 18,983 shares of the technology company’s stock worth $133,000 after buying an additional 2,483 shares during the last quarter. Silverberg Bernstein Capital Management LLC boosted its stake in shares of TransAct Technologies by 0.7% in the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 412,390 shares of the technology company’s stock valued at $1,555,000 after purchasing an additional 3,000 shares in the last quarter. Gabelli Funds LLC grew its stake in shares of TransAct Technologies by 8.6% during the second quarter. Gabelli Funds LLC now owns 38,000 shares of the technology company’s stock valued at $143,000 after buying an additional 3,000 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in TransAct Technologies by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 408,192 shares of the technology company’s stock worth $2,139,000 after acquiring an additional 3,821 shares during the last quarter. Institutional investors own 74.46% of the company’s stock.

TransAct Technologies Company Profile

TransAct Technologies Incorporated designs, develops, and markets transaction-based and specialty printers and terminals in the United States and internationally. It offers thermal printers and terminals to generate labels, coupons, and transaction records, such as receipts, tickets, and other documents.