Short Interest in TransAct Technologies Incorporated (NASDAQ:TACT) Decreases By 79.1%

TransAct Technologies Incorporated (NASDAQ:TACT) saw a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 5,734 shares, a decline of 79.1% from the May 14th total of 27,486 shares. Based on an average trading volume of 161,548 shares, the short-interest ratio is currently 0.0 days. Approximately 0.1% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of TransAct Technologies to a “hold” rating in a report 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. According to data from MarketBeat, the company currently has an average rating of “Reduce”.

TransAct Technologies Stock Performance

Shares of TACT stock traded down $0.02 during mid-day trading on Wednesday, reaching $4.93. 6,028 shares of the company’s stock traded hands, compared to its average volume of 58,021. The firm has a market capitalization of $50.68 million, a PE ratio of -98.60 and a beta of 1.27. TransAct Technologies has a 12 month low of $3.06 and a 12 month high of $5.70. The firm has a 50 day moving average price of $3.68 and a two-hundred day moving average price of $3.77.

TransAct Technologies (NASDAQ:TACT) last announced its earnings results on Tuesday, May 12th. The technology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.11. The company had revenue of $14.42 million for the quarter, compared to analysts’ expectations 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, equities analysts expect that TransAct Technologies will post -0.05 earnings per share for the current fiscal year.

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

Insider Buying and Selling at TransAct Technologies

In other TransAct Technologies news, CEO John Dillon purchased 70,902 shares of the stock in a transaction dated Monday, March 16th. The shares were purchased at an average cost of $3.49 per share, with a total value of $247,447.98. Following the completion of the acquisition, the chief executive officer directly owned 100,000 shares in the company, valued at $349,000. This trade represents a 243.67% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 19.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TACT. Coldstream Capital Management Inc. purchased a new position in shares of TransAct Technologies during the 3rd quarter valued at about $58,000. Goldman Sachs Group Inc. lifted its position in shares of TransAct Technologies by 33.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 20,464 shares of the technology company’s stock valued at $82,000 after buying an additional 5,100 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of TransAct Technologies during the 3rd quarter valued at about $151,000. Teton Advisors LLC purchased a new position in shares of TransAct Technologies during the 3rd quarter valued at about $176,000. Finally, Susquehanna International Group LLP purchased a new position in shares of TransAct Technologies during the 3rd quarter valued at about $225,000. 74.46% of the stock is owned by hedge funds and other institutional investors.

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.