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

TransAct Technologies Incorporated (NASDAQ:TACT) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 68,966 shares, an increase of 223.1% from the June 30th total of 21,347 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average daily trading volume, of 29,861 shares, the days-to-cover ratio is currently 2.3 days.

TransAct Technologies Stock Down 1.9%

TACT stock opened at $4.93 on Tuesday. The business’s fifty day simple moving average is $4.93 and its two-hundred day simple moving average is $4.01. TransAct Technologies has a twelve month low of $3.06 and a twelve month high of $6.02. The firm has a market cap of $50.73 million, a price-to-earnings ratio of -98.70 and a beta of 1.21.

TransAct Technologies (NASDAQ:TACT) last issued its 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 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%. Research analysts expect that TransAct Technologies will post -0.05 EPS for the current year.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TACT. Arrowstreet Capital Limited Partnership purchased a new stake in shares of TransAct Technologies in the 3rd quarter worth $151,000. Susquehanna International Group LLP purchased a new stake in TransAct Technologies in the third quarter worth about $225,000. NewEdge Advisors LLC purchased a new stake in TransAct Technologies in the third quarter worth about $290,000. Coldstream Capital Management Inc. bought a new position in TransAct Technologies during the 3rd quarter worth about $58,000. Finally, Geode Capital Management LLC increased its position in TransAct Technologies by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 115,552 shares of the technology company’s stock valued at $462,000 after purchasing an additional 4,742 shares during the period. 74.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TACT has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of TransAct Technologies in a research report on Tuesday, June 9th. Wall Street Zen upgraded shares of TransAct Technologies to a “hold” rating in a report on Saturday, July 18th. Finally, Zacks Research raised shares of TransAct Technologies to a “hold” rating in a research note 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus 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.