TransAct Technologies Incorporated (NASDAQ:TACT) Short Interest Up 223.1% in July

TransAct Technologies Incorporated (NASDAQ:TACT) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 68,966 shares, a growth of 223.1% from the June 30th total of 21,347 shares. Based on an average daily trading volume, of 29,861 shares, the short-interest ratio is currently 2.3 days. Approximately 0.8% of the company’s stock are short sold.

TransAct Technologies Trading Up 1.2%

TACT traded up $0.06 on Friday, hitting $5.03. 9,755 shares of the stock traded hands, compared to its average volume of 31,901. TransAct Technologies has a 52 week low of $3.06 and a 52 week high of $6.02. The business has a fifty day moving average price of $4.91 and a two-hundred day moving average price of $4.01. The firm has a market capitalization of $51.69 million, a PE ratio of -100.60 and a beta of 1.21.

TransAct Technologies (NASDAQ:TACT) last released its quarterly earnings data on Tuesday, May 12th. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.11. The business had revenue of $14.41 million for the quarter, compared to analyst estimates of $12.60 million. TransAct Technologies had a negative net margin of 0.93% and a negative return on equity of 1.56%. On average, equities research analysts forecast that TransAct Technologies will post -0.05 EPS for the current fiscal year.

TransAct Technologies declared that its Board of Directors has authorized a share buyback plan on Wednesday, May 13th that authorizes the company to repurchase $3.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 8.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Institutional Trading of TransAct Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in TACT. Geode Capital Management LLC grew its stake in TransAct Technologies by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 115,552 shares of the technology company’s stock valued at $462,000 after purchasing an additional 4,742 shares in the last quarter. Gamco Investors INC. ET AL grew its position in shares of TransAct Technologies by 3.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 150,000 shares of the technology company’s stock valued at $494,000 after acquiring an additional 5,000 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of TransAct Technologies by 33.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 20,464 shares of the technology company’s stock worth $82,000 after purchasing an additional 5,100 shares during the last quarter. Silverberg Bernstein Capital Management LLC increased its stake in shares of TransAct Technologies by 1.7% during the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 591,179 shares of the technology company’s stock worth $1,945,000 after purchasing an additional 10,156 shares during the last quarter. Finally, Coldstream Capital Management Inc. bought a new stake in shares of TransAct Technologies in the 3rd quarter valued at about $58,000. 74.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of TransAct Technologies in a report on Tuesday, June 9th. Zacks Research upgraded shares of TransAct Technologies to a “hold” rating in a research note on Wednesday, June 3rd. Finally, Wall Street Zen upgraded shares of TransAct Technologies to a “hold” rating in a research note on Saturday, July 18th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

About TransAct Technologies

TransAct Technologies Inc designs, manufactures and distributes secure card issuance systems and embedded transactional printing solutions for a variety of industries. The company’s portfolio includes high-speed card printers, card personalization and issuance software, as well as embedded printers used in kiosks, point-of-sale terminals, lottery machines and gaming applications. TransAct’s products are built to deliver reliable, on-demand printing and secure card encoding for markets that require rapid, accurate issuance of payment cards, identification badges and tickets.

Within its secure card solutions segment, TransAct offers turnkey systems that integrate card printing, magnetic stripe encoding, smart card personalization and instant card issuance software.