TransAct Technologies Incorporated (NASDAQ:TACT) Short Interest Update

TransAct Technologies Incorporated (NASDAQ:TACT) was the recipient of a significant growth in short interest during 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. Based on an average daily volume of 78,494 shares, the short-interest ratio is currently 0.3 days. Currently, 0.3% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TACT. NewEdge Advisors LLC boosted its stake in shares of 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 during the last quarter. Gamco Investors INC. ET AL lifted its holdings 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 purchasing an additional 5,000 shares in the last quarter. Silverberg Bernstein Capital Management LLC boosted its holdings 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 buying an additional 10,156 shares during the period. Heron Bay Capital Management bought a new position in shares of TransAct Technologies in the fourth quarter worth about $236,000. Finally, Renaissance Technologies LLC grew 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 worth $1,670,000 after purchasing an additional 18,122 shares in the last quarter. 74.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TACT. Weiss Ratings restated a “sell (e+)” rating on shares of TransAct Technologies in a research report on Tuesday, June 9th. Zacks Research raised shares of TransAct Technologies to a “hold” rating in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce”.

TransAct Technologies Trading Down 1.8%

TACT stock traded down $0.10 during trading on Thursday, reaching $5.21. The stock had a trading volume of 6,838 shares, compared to its average volume of 58,082. The firm has a market cap of $53.61 million, a PE ratio of -104.28 and a beta of 1.21. The stock’s 50 day moving average is $4.67 and its two-hundred day moving average is $3.95. TransAct Technologies has a 52 week low of $3.06 and a 52 week high of $6.02.

TransAct Technologies (NASDAQ:TACT) last released its quarterly earnings results on Tuesday, May 12th. The technology company reported $0.07 EPS 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 analyst estimates of $12.60 million. On average, research analysts anticipate that TransAct Technologies will post -0.05 EPS for the current year.

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