TransAct Technologies Incorporated (NASDAQ:TACT) Short Interest Update

TransAct Technologies Incorporated (NASDAQ:TACT) was the recipient of a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 21,347 shares, a growth of 87.7% from the June 15th total of 11,373 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily volume of 78,494 shares, the days-to-cover ratio is currently 0.3 days.

TransAct Technologies Stock Up 1.0%

NASDAQ:TACT traded up $0.05 during mid-day trading on Friday, reaching $5.23. The company’s stock had a trading volume of 37,154 shares, compared to its average volume of 43,045. TransAct Technologies has a 1 year low of $3.06 and a 1 year high of $6.02. The stock has a fifty day moving average of $4.74 and a 200-day moving average of $3.97. The firm has a market capitalization of $53.76 million, a PE ratio of -104.60 and a beta of 1.21.

TransAct Technologies (NASDAQ:TACT) last posted its earnings results on Tuesday, May 12th. The technology company reported $0.07 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, analysts expect that TransAct Technologies will post -0.05 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of TransAct Technologies in a report on Tuesday, June 9th. Wall Street Zen upgraded TransAct Technologies to a “hold” rating in a report on Saturday. Finally, Zacks Research raised TransAct Technologies to a “hold” rating in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, TransAct Technologies presently has a consensus rating of “Reduce”.

Institutional Investors Weigh In On TransAct Technologies

A number of institutional investors have recently added to or reduced their stakes in TACT. Geode Capital Management LLC grew its holdings in shares of TransAct Technologies by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 115,552 shares of the technology company’s stock valued at $462,000 after buying an additional 4,742 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in TransAct Technologies by 3.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 150,000 shares of the technology company’s stock valued at $494,000 after purchasing an additional 5,000 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of TransAct Technologies by 33.2% in the fourth 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 period. Silverberg Bernstein Capital Management LLC raised its stake in shares of TransAct Technologies by 1.7% in the first 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. purchased a new position in shares of TransAct Technologies in the third quarter worth about $58,000. Institutional investors own 74.46% of the company’s stock.

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.