TransAct Technologies Incorporated (NASDAQ:TACT) Short Interest Update

TransAct Technologies Incorporated (NASDAQ:TACT) saw a significant growth in short interest in the month of 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. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 67,980 shares, the short-interest ratio is presently 0.2 days.

TransAct Technologies Stock Down 9.6%

TACT stock opened at $5.07 on Friday. TransAct Technologies has a twelve month low of $3.06 and a twelve month high of $6.02. The company has a market cap of $52.12 million, a price-to-earnings ratio of -101.40 and a beta of 1.21. The business has a 50 day moving average price of $4.35 and a two-hundred day moving average price of $3.88.

TransAct Technologies (NASDAQ:TACT) last released its earnings results on Tuesday, May 12th. The technology company reported $0.07 earnings per share 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 business had revenue of $14.41 million during the quarter, compared to analysts’ expectations of $12.60 million. On average, equities research analysts anticipate that TransAct Technologies will post -0.05 EPS for the current fiscal year.

TransAct Technologies announced that its Board of Directors has initiated a share buyback plan on Wednesday, May 13th that permits the company to repurchase $3.00 million in outstanding shares. This repurchase authorization permits the technology company to purchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On TransAct Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its stake in shares of TransAct Technologies by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 115,552 shares of the technology company’s stock worth $462,000 after buying an additional 4,742 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in TransAct Technologies by 3.4% in the 1st 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 last quarter. Goldman Sachs Group Inc. raised its holdings in TransAct Technologies by 33.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 20,464 shares of the technology company’s stock valued at $82,000 after acquiring an additional 5,100 shares during the period. Silverberg Bernstein Capital Management LLC raised 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 valued at $1,945,000 after acquiring an additional 10,156 shares during the period. Finally, Coldstream Capital Management Inc. bought a new position in TransAct Technologies in the 3rd quarter valued at about $58,000. Institutional investors own 74.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TACT shares. Zacks Research raised TransAct Technologies to a “hold” rating in a research report on Wednesday, June 3rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TransAct Technologies in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently 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.