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

TransAct Technologies Incorporated (NASDAQ:TACT) was the target of a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 23,905 shares, a decline of 48.6% from the September 15th total of 46,517 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily trading volume, of 18,463 shares, the short-interest ratio is currently 1.3 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TACT. BlackRock Inc. bought a new stake in TransAct Technologies in the 2nd quarter valued at $1,413,000. Bard Associates Inc. acquired a new stake in TransAct Technologies during the 2nd quarter valued at $597,000. Globeflex Capital L P acquired a new stake in TransAct Technologies during the 2nd quarter valued at $258,000. NewEdge Advisors LLC increased its holdings in shares of TransAct Technologies by 53.1% in the first quarter. NewEdge Advisors LLC now owns 135,920 shares of the technology company’s stock valued at $447,000 after purchasing an additional 47,138 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its position in shares of 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 period. 74.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TACT shares. Weiss Ratings raised shares of TransAct Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. Wall Street Zen raised shares of TransAct Technologies to a “hold” rating in a research report on Saturday, July 18th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.

TransAct Technologies Trading Down 0.6%

NASDAQ:TACT traded down $0.03 on Wednesday, hitting $4.48. The company’s stock had a trading volume of 11,598 shares, compared to its average volume of 45,224. The stock has a fifty day moving average of $5.03 and a two-hundred day moving average of $4.58. The firm has a market capitalization of $46.24 million, a P/E ratio of -112.02 and a beta of 1.25. TransAct Technologies has a one year low of $3.06 and a one year high of $6.02.

About TransAct Technologies

TransAct Technologies Incorporated develops and supplies transaction-based technology products and related services for specialized markets. The company designs, manufactures and supports thermal printers, print heads, software and other solutions used to produce receipts, tickets, coupons and other transaction documents.

Its products serve the gaming and lottery industries, including casino printers, ticketing solutions and systems designed to support casino operations. TransAct also provides solutions for food-service businesses, including its BOHA! ecosystem, which combines hardware, software and digital tools to help restaurants and other food-service operators manage operational tasks, food safety and compliance.

TransAct serves customers in North America and international markets through direct sales, distributors and other business relationships.