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

TransAct Technologies Incorporated (NASDAQ:TACT) saw a significant growth in short interest in June. As of June 15th, there was short interest totaling 11,373 shares, a growth of 98.3% from the May 31st total of 5,734 shares. Based on an average daily volume of 67,980 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the company’s stock are sold short.

Institutional Investors Weigh In On TransAct Technologies

A number of large investors have recently added to or reduced their stakes in TACT. NewEdge Advisors LLC increased its position 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 valued at $447,000 after purchasing an additional 47,138 shares during the last quarter. Gamco Investors INC. ET AL boosted 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 worth $494,000 after buying an additional 5,000 shares in the last quarter. Silverberg Bernstein Capital Management LLC grew its position in TransAct Technologies by 1.7% during the first quarter. Silverberg Bernstein Capital Management LLC now owns 591,179 shares of the technology company’s stock valued at $1,945,000 after acquiring an additional 10,156 shares during the last quarter. Heron Bay Capital Management purchased a new position in shares of TransAct Technologies during the fourth quarter worth approximately $236,000. Finally, Renaissance Technologies LLC raised its stake 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 acquiring an additional 18,122 shares in the last quarter. Hedge funds and other institutional investors own 74.46% of the company’s stock.

TransAct Technologies Stock Performance

NASDAQ TACT traded up $0.02 on Wednesday, hitting $5.86. The stock had a trading volume of 20,585 shares, compared to its average volume of 60,450. The company has a market capitalization of $60.24 million, a price-to-earnings ratio of -117.20 and a beta of 1.27. The firm has a 50-day moving average of $4.26 and a 200-day moving average of $3.86. TransAct Technologies has a 52-week low of $3.06 and a 52-week high of $6.02.

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

TransAct Technologies announced that its board has initiated 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 purchase up to 8.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TACT shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of TransAct Technologies in a research note on Tuesday, June 9th. Zacks Research raised shares of TransAct Technologies to a “hold” rating in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce”.

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.