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

TransAct Technologies Incorporated (NASDAQ:TACT) was the recipient of a large increase in short interest in May. As of May 15th, there was short interest totalling 12,300 shares, an increase of 68.5% from the April 30th total of 7,300 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 14,100 shares, the days-to-cover ratio is presently 0.9 days.

Analysts Set New Price Targets

TACT has been the topic of a number of analyst reports. Wall Street Zen initiated coverage on TransAct Technologies in a research report on Thursday, May 15th. They issued a “hold” rating on the stock. Roth Mkm dropped their price target on TransAct Technologies from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Wednesday, May 14th. Finally, Roth Capital reiterated a “buy” rating on shares of TransAct Technologies in a research note on Wednesday, May 14th.

Hedge Funds Weigh In On TransAct Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Legato Capital Management LLC bought a new stake in TransAct Technologies during the 4th quarter valued at approximately $44,000. Quinn Opportunity Partners LLC purchased a new stake in TransAct Technologies during the 4th quarter valued at $156,000. Essex Investment Management Co. LLC grew its position in TransAct Technologies by 20.3% in the 4th quarter. Essex Investment Management Co. LLC now owns 43,841 shares of the technology company’s stock valued at $179,000 after acquiring an additional 7,402 shares during the last quarter. Northern Trust Corp lifted its position in shares of TransAct Technologies by 33.8% during the fourth quarter. Northern Trust Corp now owns 52,956 shares of the technology company’s stock worth $217,000 after purchasing an additional 13,386 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its position in shares of TransAct Technologies by 3.6% during the 4th quarter. Gamco Investors INC. ET AL now owns 145,000 shares of the technology company’s stock worth $593,000 after buying an additional 5,000 shares in the last quarter. 74.46% of the stock is currently owned by hedge funds and other institutional investors.

TransAct Technologies Trading Down 2.1%

TACT traded down $0.08 during trading on Friday, hitting $3.77. 11,824 shares of the company’s stock traded hands, compared to its average volume of 19,004. The company’s 50 day simple moving average is $3.60 and its two-hundred day simple moving average is $3.97. TransAct Technologies has a 12-month low of $3.12 and a 12-month high of $5.11. The stock has a market capitalization of $38.01 million, a price-to-earnings ratio of -18.85 and a beta of 1.17.

TransAct Technologies (NASDAQ:TACT) last released its quarterly earnings results on Tuesday, May 13th. The technology company reported $0.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.10. The firm had revenue of $13.05 million for the quarter, compared to the consensus estimate of $11.04 million. TransAct Technologies had a negative return on equity of 5.08% and a negative net margin of 4.24%. On average, equities analysts expect that TransAct Technologies will post -0.3 EPS for the current year.

About TransAct Technologies

TransAct Technologies Incorporated designs, develops, and markets transaction-based and specialty printers and terminals in the United States and internationally. It offers thermal printers and terminals to generate labels, coupons, and transaction records, such as receipts, tickets, and other documents.