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

TransAct Technologies Incorporated (NASDAQ:TACT) was the recipient of a large increase in short interest in 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. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily volume of 67,980 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analyst Weigh In

TACT has been the topic of a number of research reports. Zacks Research raised TransAct Technologies to a “hold” rating in a research note on Wednesday, June 3rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TransAct Technologies in a report on Tuesday, June 9th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce”.

Institutional Trading of TransAct Technologies

A number of hedge funds have recently modified their holdings of TACT. NewEdge Advisors LLC boosted its position 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 worth $447,000 after buying an additional 47,138 shares during the period. Gamco Investors INC. ET AL raised its position in TransAct Technologies by 3.4% during the first quarter. Gamco Investors INC. ET AL now owns 150,000 shares of the technology company’s stock valued at $494,000 after buying an additional 5,000 shares during the period. Silverberg Bernstein Capital Management LLC lifted its stake in TransAct Technologies by 1.7% in the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 591,179 shares of the technology company’s stock worth $1,945,000 after acquiring an additional 10,156 shares in the last quarter. Heron Bay Capital Management purchased a new stake in TransAct Technologies in the 4th quarter worth about $236,000. Finally, Renaissance Technologies LLC boosted its position in TransAct Technologies by 4.5% during the 4th quarter. Renaissance Technologies LLC now owns 417,437 shares of the technology company’s stock worth $1,670,000 after acquiring an additional 18,122 shares during the period. Hedge funds and other institutional investors own 74.46% of the company’s stock.

TransAct Technologies Trading Down 9.6%

TACT stock traded down $0.54 on Thursday, hitting $5.07. 29,402 shares of the company’s stock traded hands, compared to its average volume of 60,757. The stock has a market cap of $52.12 million, a price-to-earnings ratio of -101.40 and a beta of 1.21. 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 $4.31 and a 200-day moving average of $3.87.

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

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

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.