Short Interest in TransAct Technologies Incorporated (NASDAQ:TACT) Declines By 79.1%

TransAct Technologies Incorporated (NASDAQ:TACT) was the recipient of a significant decrease in short interest in May. As of May 29th, there was short interest totaling 5,734 shares, a decrease of 79.1% from the May 14th total of 27,486 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 161,548 shares, the short-interest ratio is currently 0.0 days.

TransAct Technologies Trading Up 6.6%

NASDAQ TACT traded up $0.33 on Thursday, hitting $5.35. The company’s stock had a trading volume of 85,708 shares, compared to its average volume of 58,285. TransAct Technologies has a 52-week low of $3.06 and a 52-week high of $5.70. The company’s 50-day simple moving average is $3.71 and its 200 day simple moving average is $3.78. The firm has a market cap of $55.00 million, a P/E ratio of -107.00 and a beta of 1.27.

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. TransAct Technologies had a negative return on equity of 1.56% and a negative net margin of 0.93%.The business had revenue of $14.42 million during the quarter, compared to analysts’ expectations of $12.60 million. On average, research analysts forecast that TransAct Technologies will post -0.05 EPS for the current fiscal year.

TransAct Technologies announced that its board has authorized a share repurchase plan on Wednesday, May 13th that permits the company to buyback $3.00 million in shares. This buyback authorization permits the technology company to purchase up to 8.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Separately, Zacks Research upgraded TransAct Technologies to a “hold” rating in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce”.

Insider Activity

In related news, CEO John Dillon bought 70,902 shares of the company’s stock in a transaction on Monday, March 16th. The shares were purchased at an average price of $3.49 per share, for a total transaction of $247,447.98. Following the completion of the transaction, the chief executive officer directly owned 100,000 shares in the company, valued at approximately $349,000. The trade was a 243.67% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 19.24% of the stock is currently owned by corporate insiders.

Institutional Trading of TransAct Technologies

Several institutional investors have recently added to or reduced their stakes in TACT. Coldstream Capital Management Inc. purchased a new stake in TransAct Technologies during the 3rd quarter valued at $58,000. Goldman Sachs Group Inc. boosted its stake in TransAct Technologies by 33.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 20,464 shares of the technology company’s stock valued at $82,000 after purchasing an additional 5,100 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in TransAct Technologies during the 3rd quarter valued at $151,000. Teton Advisors LLC bought a new position in TransAct Technologies during the 3rd quarter valued at about $176,000. Finally, Susquehanna International Group LLP bought a new position in TransAct Technologies during the 3rd quarter valued at about $225,000. 74.46% of the stock is currently owned by hedge funds and other institutional investors.

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.