Short Interest in TransAct Technologies Incorporated (NASDAQ:TACT) Grows By 223.1%

TransAct Technologies Incorporated (NASDAQ:TACT) was the recipient of a large 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 trading volume of 29,861 shares, the short-interest ratio is presently 2.3 days. Currently, 0.8% of the company’s shares are short sold.

Hedge Funds Weigh In On TransAct Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in TACT. NewEdge Advisors LLC grew its holdings in TransAct Technologies by 53.1% during the 1st quarter. NewEdge Advisors LLC now owns 135,920 shares of the technology company’s stock worth $447,000 after acquiring an additional 47,138 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in TransAct Technologies by 3.4% in the first 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. Silverberg Bernstein Capital Management LLC raised its holdings in 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 in the last quarter. Heron Bay Capital Management bought a new position in TransAct Technologies in the fourth quarter worth about $236,000. Finally, Renaissance Technologies LLC lifted its position in shares of TransAct Technologies by 4.5% during the fourth quarter. Renaissance Technologies LLC now owns 417,437 shares of the technology company’s stock valued at $1,670,000 after buying an additional 18,122 shares during the last quarter. Institutional investors own 74.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on TACT. Zacks Research raised TransAct Technologies to a “hold” rating in a research report on Wednesday, June 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of TransAct Technologies in a research report on Tuesday, June 9th. Finally, Wall Street Zen raised shares of TransAct Technologies to a “hold” rating in a research note on Saturday, July 18th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

TransAct Technologies Price Performance

Shares of NASDAQ:TACT remained flat at $5.03 during trading on Monday. 16,635 shares of the stock were exchanged, compared to its average volume of 56,216. The company has a market capitalization of $51.71 million, a price-to-earnings ratio of -100.60 and a beta of 1.21. The business’s 50-day simple moving average is $4.91 and its two-hundred day simple moving average is $4.01. TransAct Technologies has a fifty-two week low of $3.06 and a fifty-two week high of $6.02.

TransAct Technologies (NASDAQ:TACT) last posted its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.07 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $14.41 million during the quarter, compared to the consensus estimate of $12.60 million. On average, sell-side analysts expect that TransAct Technologies will post -0.05 EPS for the current fiscal year.

TransAct Technologies announced that its Board of Directors has authorized a stock buyback program on Wednesday, May 13th that permits the company to repurchase $3.00 million in shares. This repurchase authorization permits the technology company to purchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are 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.