TransAct Technologies Incorporated (NASDAQ:TACT) Sees Large Increase in Short Interest

TransAct Technologies Incorporated (NASDAQ:TACT) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 11,373 shares, an increase of 98.3% from the May 31st total of 5,734 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 67,980 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On TransAct Technologies

A number of institutional investors have recently bought and sold shares of TACT. Teton Advisors LLC purchased a new position in shares of TransAct Technologies during the 3rd quarter worth approximately $176,000. Arrowstreet Capital Limited Partnership purchased a new stake in TransAct Technologies in the third quarter worth $151,000. Susquehanna International Group LLP purchased a new stake in TransAct Technologies in the third quarter worth about $225,000. NewEdge Advisors LLC purchased a new position in TransAct Technologies during the third quarter valued at $290,000. Finally, Coldstream Capital Management Inc. purchased a new stake in TransAct Technologies during the 3rd quarter valued at about $58,000. 74.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TransAct Technologies in a research note on Tuesday, June 9th. Zacks Research raised shares of TransAct Technologies to a “hold” rating in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

TransAct Technologies Stock Performance

Shares of TransAct Technologies stock traded up $0.02 during midday trading on Wednesday, reaching $5.86. 20,585 shares of the company’s stock traded hands, compared to its average volume of 60,450. The stock has a 50 day moving average of $4.26 and a 200-day moving average of $3.86. TransAct Technologies has a 12 month low of $3.06 and a 12 month high of $6.02. The company has a market cap of $60.24 million, a PE ratio of -117.20 and a beta of 1.27.

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

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

TransAct Technologies Company Profile

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.