TransAct Technologies Incorporated (NASDAQ:TACT) Short Interest Update

TransAct Technologies Incorporated (NASDAQ:TACT) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 21,347 shares, an increase of 87.7% from the June 15th total of 11,373 shares. Based on an average trading volume of 78,494 shares, the short-interest ratio is presently 0.3 days. Approximately 0.3% of the shares of the company are short sold.

Institutional Investors Weigh In On TransAct Technologies

A number of institutional investors have recently bought and sold shares of TACT. Heron Bay Capital Management bought a new stake in shares of TransAct Technologies in the 4th quarter valued at approximately $236,000. NewEdge Advisors LLC bought a new position in shares of TransAct Technologies in the third quarter valued at about $290,000. Susquehanna International Group LLP acquired a new position in shares of TransAct Technologies during the third quarter worth approximately $225,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of TransAct Technologies during the third quarter worth approximately $151,000. Finally, Renaissance Technologies LLC boosted its position in TransAct Technologies by 4.5% in the 4th quarter. Renaissance Technologies LLC now owns 417,437 shares of the technology company’s stock valued at $1,670,000 after buying an additional 18,122 shares during the last quarter. Institutional investors and hedge funds own 74.46% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TransAct Technologies in a report on Tuesday, June 9th. Zacks Research raised TransAct Technologies to a “hold” rating in a research note on Wednesday, June 3rd. One research 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, TransAct Technologies has an average rating of “Reduce”.

TransAct Technologies Trading Down 4.7%

NASDAQ TACT opened at $5.06 on Friday. TransAct Technologies has a 1-year low of $3.06 and a 1-year high of $6.02. The company has a market capitalization of $52.03 million, a PE ratio of -101.22 and a beta of 1.21. The firm’s fifty day simple moving average is $4.71 and its 200-day simple moving average is $3.96.

TransAct Technologies (NASDAQ:TACT) last issued its quarterly earnings data 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 firm had revenue of $14.41 million for the quarter, compared to analyst estimates of $12.60 million. As a group, analysts predict that TransAct Technologies will post -0.05 EPS for the current year.

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

TransAct Technologies Company Profile

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.